// Former Dream Market Administrator Indicted for Alleged Money Laundering

Dream Market Background

Dream Market operated from 2013 until 2019 and was one of the largest criminal marketplaces on the darknet. At its peak, the site reportedly listed nearly 100,000 items, ranging from narcotics to counterfeit documents. According to U.S. authorities, the marketplace facilitated substantial quantities of illicit drugs, including heroin, cocaine, crack cocaine, methamphetamine, oxycodone, and fentanyl. The platform relied on Tor for anonymity and cryptocurrencies for transactions.

Law Enforcement Investigations

High-ranking administrators of Dream Market using the monikers “Oxymonster” and “KITT3N” were previously prosecuted in the United States, and a mid-level administrator known as “GOWRON” was prosecuted in the United Kingdom. The alleged primary administrator, identified by the pseudonym “Speedstepper,” had not been publicly identified until Andresen’s indictment.

Following the marketplace’s voluntary closure in 2019, the remaining cryptocurrency wallets, reportedly holding millions in commissions, were largely untouched. Andresen is accused of accessing these wallets in late 2022 and consolidating the funds into new cryptocurrency accounts.

Alleged Money Laundering Activities

According to federal filings, Andresen allegedly converted funds from the consolidated wallets into gold bars purchased through a cryptocurrency service provider in Atlanta, Georgia. These bars were reportedly shipped to his residence in Germany. Additional transactions allegedly occurred within Germany, with authorities claiming over $2 million was laundered between August 2023 and April 2025. During searches in May 2026, law enforcement reportedly recovered approximately $1.7 million in gold bars, $23,000 in cash, and access information to bank and cryptocurrency accounts believed to contain Dream Market proceeds.

Legal Proceedings

A federal grand jury returned an indictment in January 2026, charging Andresen with multiple counts of international concealment money laundering and concealment money laundering, each carrying a potential 20-year sentence. Germany has also charged him with several counts of money laundering, each carrying up to five years in prison. Officials emphasize that these charges are allegations, and the defendant is presumed innocent until proven guilty in court.

Investigating Agencies

The case involves multiple agencies, including the IRS Criminal Investigation Cyber Crimes Unit and the DEA Miami Counternarcotic Cyber Investigations Task Force, with support from German authorities. A broader multi-agency task force, including U.S. federal and local agencies, conducted the initial Dream Market investigation between 2016 and 2022.

Conclusion

Andresen’s indictment underscores ongoing international efforts to address financial activities linked to darknet marketplaces. The case remains active in both U.S. and German courts, with legal proceedings expected to determine the validity of the charges.