Yahoo Crypto Market • October 9th 2026, 12:50 PM
Dark Web Founder Loses $100 Million in Bitcoin After 40-Year Sentence: Where Does It Go?
Key Summary
Raheim Hamilton, co-creator of Empire Market, has been sentenced to 40 years in prison and forfeited 1,230 Bitcoins, worth approximately $100 million, in a bid to disrupt the dark web market. The seized BTC will be auctioned off to the public
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Dark Web Founder Loses $100 Million in Bitcoin After 40-Year Sentence
Seizure and Forfeiture
Raheim Hamilton, a key figure in the creation of Empire Market, a notorious dark web marketplace, has been sentenced to 40 years in prison. As part of the plea deal, Hamilton forfeited 1,230 Bitcoins, valued at around $100 million at the time of the seizure. The US Department of Justice has taken control of the seized assets, which will be auctioned off to the public in the coming months.Disruption of Dark Web Marketplaces
The seizure of Hamilton's assets is seen as a significant blow to the dark web marketplace ecosystem. Empire Market was one of the largest and most notorious dark web marketplaces, operating on the Tor network. The platform allowed users to buy and sell illicit goods and services, including narcotics, stolen data, and counterfeit currency.Auction Process
The US Department of Justice has announced that the seized Bitcoins will be auctioned off to the public through a process managed by the US Marshals Service. The auction will be open to the public, and interested parties can participate online or in-person. The exact date and time of the auction have not been announced yet.#Bitcoin#DarkWeb#US#Crypto