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Indictment of alleged Dream Market administrator Owe Martin Andresen for international money laundering

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The alleged main administrator of the now-defunct dark web marketplace Dream Market, identified as Owe Martin Andresen (aka 'Speedstepper'), has been indicted in the U.S. on 12 counts of international concealment money laundering. Andresen, arrested in Germany, is accused of laundering over $2 million in proceeds from Dream Market operations between August 2023 and April 2025. The charges stem from the alleged movement of dormant marketplace cryptocurrency wallets’ funds into new wallets in late 2022, followed by the purchase of gold bars using those funds in August 2023. German authorities recovered approximately $1.7 million in gold bars, over $23,000 in cash, and evidence of additional proceeds totaling $1.2 million during searches of his residence and two other locations on May 7, 2026.

Timeline

  1. 14.05.2026 11:55 1 articles · 1h ago

    U.S. indictment of alleged Dream Market administrator Owe Martin Andresen for international money laundering

    On May 14, 2026, a U.S. federal grand jury indicted 49-year-old Owe Martin Andresen (aka 'Speedstepper'), the alleged main administrator of Dream Market, on 12 counts of international concealment money laundering. Andresen was arrested in Germany, where he allegedly laundered over $2 million in Dream Market proceeds between August 2023 and April 2025. Investigation details include the movement of dormant cryptocurrency wallet funds in late 2022 and the purchase of gold bars in August 2023 using laundered funds shipped to Germany. German authorities conducted searches on May 7, 2026, recovering $1.7 million in gold bars, $23,000 in cash, and evidence of $1.2 million in additional proceeds.

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Information Snippets

  • Owe Martin Andresen (49), operating under the moniker 'Speedstepper', was indicted by a U.S. federal grand jury on 12 counts of international concealment money laundering.

    First reported: 14.05.2026 11:55
    1 source, 1 article
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  • Andresen faces up to 20 years in prison per U.S. charge and up to five years per German charge.

    First reported: 14.05.2026 11:55
    1 source, 1 article
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  • Dream Market, operational from November 2013 to its shutdown in 2019, facilitated the sale of at least 450 kg cocaine, 90 kg heroin, 45 kg methamphetamine, 25 kg crack cocaine, 13 kg oxycodone, and 36 kg fentanyl.

    First reported: 14.05.2026 11:55
    1 source, 1 article
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  • Authorities allege Andresen accessed and moved funds from dormant Dream Market cryptocurrency wallets containing millions in commission payments between November and December 2022, requiring possession of the marketplace’s original private keys.

    First reported: 14.05.2026 11:55
    1 source, 1 article
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  • In August 2023, Andresen allegedly used a cryptocurrency service provider in Atlanta, Georgia to purchase gold bars with laundered funds, which were shipped to his residence in Germany.

    First reported: 14.05.2026 11:55
    1 source, 1 article
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  • German law enforcement identified additional money laundering transactions by Andresen in Germany, totaling over $2 million between August 2023 and April 2025.

    First reported: 14.05.2026 11:55
    1 source, 1 article
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  • During searches on May 7, 2026, German authorities recovered approximately $1.7 million in gold bars, over $23,000 in cash, and evidence of $1.2 million in suspected Dream Market proceeds across bank accounts and cryptocurrency wallets.

    First reported: 14.05.2026 11:55
    1 source, 1 article
    Show sources