Raheim Hamilton, the 30-year-old co-creator of Empire Market, a dark web marketplace, received a 40-year prison sentence this week for facilitating the sale of drugs, hacking tools, and stolen information. Hamilton pleaded guilty to drug conspiracy charges and agreed to forfeit more than $100 million in bitcoin and several Virginia properties. U.S. District Judge Steven Seeger also imposed a $5 million fine on Hamilton.
Empire Market, operated by Hamilton and Thomas Pavey from 2018 to 2020, hosted over 4 million transactions totaling $430 million, with approximately $375 million derived from drug sales including fentanyl, cocaine, methamphetamine, and heroin. The platform’s popularity stemmed from encryption services and cryptocurrency laundering capabilities. The marketplace suddenly closed in summer 2020 with operators allegedly stealing $30 million in bitcoin from users. Pavey, Hamilton’s co-operator, pleaded guilty and awaits sentencing later this month.
Source: Read the full story at The Record
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