US authorities have charged a German national accused of being the main administrator behind Dream Market, one of the largest darknet marketplaces before its shutdown in 2019. The suspect was arrested last week in Germany following a coordinated international law enforcement operation.
According to the US Department of Justice, 49-year-old Owe Martin Andresen allegedly operated Dream Market under the online alias “Speedstepper.” Prosecutors say the platform became one of the largest criminal marketplaces on the dark web, hosting nearly 100,000 listings at its peak.
Dream Market operated between 2013 and 2019 and was widely used for the sale of narcotics, stolen personal data, counterfeit identification documents, fraud tools, and other illegal services. Buyers and sellers accessed the platform through the Tor anonymity network while using cryptocurrencies to hide transactions.
Federal prosecutors say the marketplace facilitated the sale of massive quantities of illegal drugs, including heroin, cocaine, methamphetamine, oxycodone, crack cocaine, and fentanyl.
Although Dream Market shut down in 2019 amid increasing law enforcement pressure, investigators continued monitoring cryptocurrency wallets associated with the platform. Authorities say millions of dollars in commission payments remained untouched in so-called “Dream Wallets” for several years after the marketplace disappeared.
According to the indictment, Andresen allegedly regained access to those wallets in late 2022 using the original private keys tied to the marketplace’s infrastructure. Prosecutors claim he then transferred funds into newly consolidated cryptocurrency wallets and later attempted to launder the proceeds through gold purchases and other financial transactions.
US investigators allege Andresen used an Atlanta-based cryptocurrency service provider in 2023 to purchase gold bars from international suppliers and had them shipped directly to his home in Germany. Authorities say he laundered more than $2 million between August 2023 and April 2025.
During coordinated searches conducted on May 7, German and US law enforcement officers raided Andresen’s residence and two additional locations. Investigators reportedly seized approximately $1.7 million worth of gold bars, more than $23,000 in cash, and identified cryptocurrency wallets and bank accounts holding another $1.2 million believed to be tied to Dream Market proceeds.
Andresen now faces six counts of concealment money laundering and six counts of international concealment money laundering in the United States. Each charge carries a maximum sentence of up to 20 years in prison. German authorities have also filed separate money laundering charges against him.
The case closes one of the longest-running investigations tied to the Dream Market ecosystem. While several moderators, vendors, and administrators connected to the marketplace had previously been arrested and convicted in the US and UK, authorities had never publicly identified the platform’s alleged primary administrator until now.