Empire Market Co-Founder Sentenced to 40 Years and Forfeits 1,230 Bitcoin

Raheim Hamilton, co-founder of the dark web illicit platform Empire Market, has been sentenced to 40 years in U.S. federal prison and fined $5 million following a guilty plea to drug conspiracy charges. Under the sentence, Hamilton agreed to forfeit about 1,230 bitcoin, 24.4 ether, and three Virginia properties. Empire Market operated between 2018 and 2020, processing more than four million cryptocurrency transactions totaling over $430 million, including approximately $375 million in illicit drug sales. Co-founder Thomas Pavey, who also pleaded guilty, awaits sentencing and agreed to forfeit roughly 1,584 bitcoin.