--- title: "Two Men Indicted in Chicago Over $430M Empire Market Operation" description: "Federal prosecutors charged Thomas Pavey and Raheim Hamilton with running the darknet bazaar from 2018 to 2020, seizing $75 million in cryptocurrency." url: https://basisdesk.news/news/two-men-indicted-empire-market-operation-seizure published: 2026-10-09T10:21:29.685Z modified: 2026-10-09T10:21:29.685Z section: Regulation & Policy author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: neutral tickers: [] tags: [Empire Market, Department of Justice, HSI, Darknet, Money Laundering, Asset Seizure] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # Two Men Indicted in Chicago Over $430M Empire Market Operation Federal prosecutors charged Thomas Pavey and Raheim Hamilton with running the darknet bazaar from 2018 to 2020, seizing $75 million in cryptocurrency. ## At a glance - **What happened:** Federal prosecutors in Chicago charged Thomas Pavey and Raheim Hamilton with running the $430 million dark web marketplace Empire Market. - **Why it matters:** Law enforcement seized $75 million in cryptocurrency and demonstrated persistent enforcement capability against historical darknet exit scams. - **Who is affected:** Defendants Thomas Pavey and Raheim Hamilton, along with law enforcement agencies and darknet marketplace users. - **What's next:** Federal court proceedings and hearings for both defendants in Chicago. - **Status:** enforcement - **Primary source:** [‍Two Charged With Operating $430 Million Darknet Market Empire In Investigation Led By HSI New York](https://www.trmlabs.com/post/two-charged-with-operating-430-million-darknet-market-empire-in-investigation-led-by-hsi-new-york) — trmlabs.com ## Key points - Thomas Pavey and Raheim Hamilton were indicted in Chicago federal court for running darknet platform Empire Market. - The marketplace processed approximately four million illicit transactions worth over $430 million between 2018 and 2020. - Federal investigators seized $75 million in cryptocurrency alongside cash and precious metals during the multi-agency probe. ## Editorial remark - **Context:** Empire Market arose in February 2018 to fill the vacuum created by the 2017 law enforcement takeovers of AlphaBay and Hansa Market, becoming the leading Western darknet platform until it exit-scammed in August 2020. - **Impact:** The indictment targets top operators of legacy darknet markets, signaling continued cross-agency collaboration between HSI, the FBI, and USPIS in tracking historical illicit crypto transaction flows. - **Watch:** Subsequent court appearances and trial scheduling for Pavey and Hamilton in U.S. District Court in Chicago. Federal authorities in Chicago have charged two men in custody, Thomas Pavey and Raheim Hamilton, with running the illicit dark web platform Empire Market [1]. A superseding indictment unsealed in federal court alleges the pair owned and managed the platform from 2018 until 2020, processing approximately four million illicit transactions valued at more than $430 million [1]. Both defendants face federal charges of conspiring to commit drug trafficking, computer fraud, access device fraud, counterfeiting, and money laundering [1]. According to prosecutors, Pavey and Hamilton previously collaborated on the shuttered darknet platform AlphaBay, where they sold counterfeit U.S. currency [1]. Following the 2017 shutdown of AlphaBay, the duo launched Empire Market in February 2018 [1]. The site operated as an escrow-based marketplace designed to emulate AlphaBay’s interface, allowing customers to purchase narcotics including cocaine, LSD, heroin, and methamphetamine, as well as stolen credit cards and malware [1]. Transactions were settled in cryptocurrency, and buyers subsequently rated transactions on parameters such as seller stealth [1]. ## Multimillion-Dollar Asset Seizures Investigators recovered cash, precious metals, and $75 million worth of cryptocurrency at the time of the seizures during the multi-agency operation [1]. The probe was conducted jointly by Homeland Security Investigations New York, the FBI Chicago field office, and the U.S. Postal Inspection Service, alongside HSI New York’s El Dorado Task Force [1]. TRM Labs’ blockchain intelligence team noted that Empire Market maintained broad exposure to Western virtual asset service providers, crypto mixers, and unhosted wallets before abruptly shutting down in an exit scam in August 2020 [1]. The indictment comes amid broader prosecutorial efforts against the platform's leadership, following prior enforcement actions such as the case where the [DOJ announced a 40-year prison sentence for Empire Market's co-creator](https://basisdesk.news/news/empire-market-co-creator-sentenced-40-years-prison). Pavey and Hamilton remain in federal custody as proceedings continue in federal court in Chicago [1]. ## Sources 1. [‍Two Charged With Operating $430 Million Darknet Market Empire In Investigation Led By HSI New York](https://www.trmlabs.com/post/two-charged-with-operating-430-million-darknet-market-empire-in-investigation-led-by-hsi-new-york) — trmlabs.com, 2026-10-09 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai