Empire Market Co-Founder Sentenced to 40 Years in Prison, Forfeits 1,230 Bitcoins

On October 8, a federal court in Chicago sentenced Raheim Hamilton, co-founder of Empire Market, to 40 years in prison and imposed a fine of $5 million. Hamilton pleaded guilty to drug conspiracy charges, with prosecutors stating that he co-operated the dark web market from 2018 to 2020, completing over 4 million transactions with net drug sales of nearly $375 million, all conducted in cryptocurrency. Hamilton agreed to forfeit approximately 1,230 Bitcoins, 24.4 ETH, and three properties in Virginia. Another co-founder, Thomas Pavey, pleaded guilty last year, with sentencing still pending.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.