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

Empire Market co-founder Raheim Hamilton has been sentenced to 40 years in U.S. federal prison, fined $5 million, and ordered to forfeit roughly 1,230 Bitcoin, 24.4 Ether, and three Virginia properties. Hamilton pleaded guilty to federal drug conspiracy charges tied to the illicit marketplace, which processed more than 4 million transactions totaling over $430 million from 2018 to 2020. Co-founder Thomas Pavey also agreed to surrender about 1,584 Bitcoin, bringing total forfeitures to 2,814 Bitcoin valued at approximately $234 million.