Alleged Dream Market Admin Arrested After $1.7M Gold Buy

Federal authorities arrested Owe Martin Andresen, a German national, on money-laundering charges after he used cryptocurrency tied to the defunct darknet market Dream Market to buy $1.7 million in gold bars delivered to his Georgia home.

The U.S. Attorney’s Office for the Northern District of Georgia wrote that Andresen, who is believed to have used the alias “Speedstepper,” moved millions from wallets linked to Dream Market and used a Georgia-based cryptocurrency payment processor to purchase gold from international merchants. The office stated several purchases took place in August 2023 after Andresen consolidated funds from the market. Federal agents executed a search warrant at his residence in May 2026 and seized $1.7 million in gold bars and more than $23,000 in cash. Investigators also identified about $1.2 million in cryptocurrency and bank accounts tied to Dream Market activity.

Prosecutors charged Andresen with six counts of international money laundering and six counts of money-laundering concealment. Each count carries a maximum sentence of 20 years in prison.

The U.S. Attorney’s Office stated that Dream Market facilitated large-scale illegal drug sales and provided quantities attributed to the market, including 90 kilograms of heroin, 450 kilograms of cocaine, 25 kilograms of crack cocaine, 45 kilograms of methamphetamine, 13 kilograms of oxycodone and 36 kilograms of fentanyl.

Agents from the Internal Revenue Service Criminal Investigation division traced the cryptocurrency through the payment processor to the gold purchases and the shipment address. Kareem Carter, Special Agent in Charge of IRS CI, wrote in the release: “The reintegration of long dormant proceeds demonstrates a hard truth: illicit actors may hide in the shadows, but their financial footprints remain. IRS CI is dedicated to following the money, and our Cyber Crimes Unit special agents are dedicated to exposing those who attempt to exploit technology to evade accountability.”

The charges were filed by the U.S. Attorney’s Office in the Northern District of Georgia following the May 2026 raid. Andresen will be prosecuted in federal court on the laundering counts; additional court dates and procedural steps were not disclosed in the office’s release.