The U.S. Department of Justice indicts Dream Market’s administrator; $1.7 million in gold bars seized in Germany

According to BeInCrypto reported on May 17, the U.S. Department of Justice indicted 49-year-old German citizen Owe Martin Andreasen, alleging that he was involved in money laundering of approximately $2 million, with the funds originating from the dark web market Dream Market. Germany arrested Andreasen on May 7 and seized approximately $1.7 million worth of gold and $23k in cash.

Confirmed Details of the Arrest and Seizures

According to the DOJ indictment and confirmation by German authorities:

Arrest date: May 7, 2026, German authorities carried out the arrest

Seized asset one: gold bars worth approximately $1.7 million

Seized asset two: $23k in cash

Additional assets found: a bank account and cryptocurrency accounts totaling $1.2 million (confirmed to be related to Dream Market)

Defendant information: Owe Martin Andreasen, 49 years old, German citizen, Dream Market alias “Speedstepper”

Confirmation of the Money Laundering Plan

According to the DOJ indictment, Andreasen’s operating process was as follows:

Late 2022: accessed a dormant Dream Market wallet

Funds consolidation: transferred funds to a new consolidated address

From August 2023: through a crypto service platform in Atlanta, purchased gold bars from international dealers

Gold delivery: dealers shipped the gold bars directly to Andreasen’s residence in Germany

Background of Dream Market and Previously Confirmed Enforcement Record

Dream Market operated between 2013 and 2019. At its peak, it had nearly 100k product listings, and buyers paid with Bitcoin (BTC). According to DOJ data, the platform was involved in:

· sales of more than 450 kilograms of cocaine

· sales of more than 90 kilograms of heroin

· circulation of 36 kilograms of fentanyl

Previously, three administrators had already been convicted under the aliases Oxymonster, KITT3N, and GOWRON; Speedstepper’s identity (Andreasen) was only confirmed by this indictment, and had remained unknown during years of investigation.

Charges Confirmed by the U.S. and Germany

U.S. charges: 12 counts, each carrying a maximum sentence of 20 years in prison

German charges: corresponding charges, each carrying a maximum sentence of 5 years in prison

Frequently Asked Questions

Who is Speedstepper, and what role did he play in Dream Market?

According to the DOJ indictment, Speedstepper is the alias of Owe Martin Andreasen. He was Dream Market’s primary administrator whose long-term identity remained unknown. Dream Market was a dark web marketplace that operated from 2013 to 2019. Under law enforcement pressure, it voluntarily shut down and had previously been the target of multiple crypto-related criminal cases.

How did Andreasen launder Dream Market cryptocurrency into tangible assets?

According to the DOJ indictment, Andreasen revisited the dormant Dream Market wallet at the end of 2022. After consolidating the cryptocurrency, starting in August 2023 he purchased gold bars through a crypto service platform in Atlanta, with the international dealers shipping the gold bars directly to his residence in Germany.

What pattern does the DOJ follow in enforcing against closed dark web markets?

The DOJ has also recently recovered $1 billion worth of Bitcoin related to Silk Road. The Dream Market case is part of the DOJ’s ongoing pursuit of dormant dark web proceeds. Among the four main administrators of Dream Market, Andreasen was the last one whose identity was confirmed and who was indicted.