Dark‑web drug market founder sentenced to 40 years and ordered to forfeit over 1,200 BTC
Raheim Hamilton, co‑creator of the Empire Market darknet drug platform, received a 40‑year federal prison term. He agreed to surrender 1,230 bitcoin, worth about $101 million, plus 24.4 ether and three Virginia properties. His partner, Thomas Pavey, has already forfeited 1,584 bitcoin and other assets. Empire Market ran from 2018‑2020, handling more than four million drug transactions valued at roughly $430 million.
Why it matters
The forfeited bitcoin will be placed in the Strategic Bitcoin Reserve under a 2025 White House order, which bars its sale and could remove up to 2,814 BTC (about $234 million) from circulation, potentially tightening supply for BTC‑USD investors.
Key facts
- 1Hamilton was sentenced to 40 years in federal prison by U.S. District Judge Steven C. Seeger. coindesk.com
- 2Hamilton agreed to forfeit 1,230 bitcoin, valued at about $101 million. coindesk.com
- 3Hamilton also forfeits 24.4 ether and three Virginia properties. coindesk.com
- 4Pavey forfeited 1,584 bitcoin, gold bars, three cars and two Florida properties. coindesk.com
- 5Empire Market facilitated more than 4 million drug transactions worth roughly $430 million, with drug sales accounting for about $375 million. coindesk.com
- 6The 2025 White House executive order directs forfeited bitcoin into a national Strategic Bitcoin Reserve and prohibits its sale. beincrypto.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.