Empire Market Founder Hamilton Gets 40 Years and Surrenders Over $100 Million in Crypto

A Chicago federal judge handed 30-year-old Raheim Hamilton of Suffolk, Virginia, a 40-year sentence on Monday and ordered him to pay a $5 million fine. Hamilton had helped build Empire Market and agreed to give up 1,230 bitcoin, valued at about $101 million, plus 24.4 ether worth roughly $60,000 and three properties. Together with the 1,584 bitcoin his partner Thomas Pavey surrendered last year, the two men have handed over roughly 2,800 BTC, a haul worth about $250 million.

How Empire Market Ran From 2018 to 2020

Prosecutors say the platform processed over 4 million drug transactions worth more than $430 million, with narcotics making up nearly $375 million. Buyers were required to pay in crypto and were pushed toward mixing tools to hide their trail. Stolen logins, personal data, fake currency and hacking tools were sold there as well.

What Comes Next and Wider Darknet Enforcement

Pavey, 41, of Ormond Beach, Florida, pleaded guilty to drug conspiracy and also forfeited gold bars, vehicles and Florida real estate. His sentencing is expected later this month. The case adds to a run of darknet prosecutions, including a 30-year term for Incognito Market operator Rui-Siang Lin in February and a $400 million Helix mixer seizure, a service linked to laundering at least 354,468 bitcoin.