Bitcoin
United States Secures 2,814 Bitcoin in Darknet Forfeitures Under Reserve Policy
The US government is set to retain over 2,800 forfeited Bitcoin from the operators of Empire Market under an executive order establishing a national strategic reserve.
Federal authorities in Chicago sentenced Empire Market co-founder Raheim Hamilton to 40 years in prison on October 5, 2026, requiring the surrender of approximately 1,230 Bitcoin, 24.4 Ether, and three real estate assets. Co-founder Thomas Pavey agreed to forfeit roughly 1,584 Bitcoin ahead of his sentencing later in the month, bringing the combined confiscation to 2,814 Bitcoin valued at approximately $234 million.
Empire Market operated as a darknet marketplace between 2018 and 2020, facilitating over four million transactions totaling more than $430 million in cryptocurrency, predominantly for narcotics. Investigators had previously seized $75 million in crypto assets during the inquiry.
Under an executive order signed by President Donald Trump on March 6, 2025, forfeited Bitcoin must be placed into a strategic national reserve rather than liquidated, provided restitution exceptions do not apply. This approach contrasts with the German state of Saxony, which sold its confiscated Bitcoin holdings in 2024.
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