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

According to the U.S. Department of Justice, Empire Market co-founder Raheim Hamilton was sentenced to 40 years in federal prison for a drug conspiracy offense and fined $5 million. From 2018 to 2020, the darknet marketplace facilitated more than 4 million transactions worth over $430 million, including nearly $375 million in net drug sales.

The platform required all transactions to be conducted in cryptocurrency and encouraged users to use mixing services. Hamilton pleaded guilty and agreed to forfeit about 1,230 BTC, 24.4 ETH and three properties. Co-founder Thomas Pavey also previously pleaded guilty and agreed to forfeit about 1,584 BTC and other assets, with sentencing expected later this month. — link