Empire Market Co-Creator Sentenced for $430M Dark Web Operations
- Raheim Hamilton, co-creator of Empire Market, received a sentence of 40 years in federal prison and a $5 million fine.
- The marketplace facilitated over four million transactions worth more than $430 million from 2018 to 2020, all conducted in cryptocurrency.
- Hamilton agreed to forfeit approximately 1,230 BTC and 24.4 ETH, along with three properties in Virginia.
- Co-creator Thomas Pavey is awaiting sentencing later this month after pleading guilty to a federal drug conspiracy charge.
Empire Market became the leading Western darknet market following its launch post-AlphaBay takedown, facilitating substantial illegal transactions primarily involving drugs. The platform’s operations highlight the significant role of cryptocurrencies in illicit online marketplaces.
Hamilton’s sentencing underscores the legal risks associated with operating darknet markets that rely heavily on cryptocurrencies like Bitcoin and Ethereum. (Source)
