Recently, a Taiwanese national was apprehended for running a darknet drug market called Incognito Market that has generated over $100 million in cryptocurrency transactions by selling illicit substances like fentanyl. The individual, identified as Rui-Siang Lin, who operated under the alias “Pharoah,” was taken into custody at John F. Kennedy Airport in New York by U.S. authorities. It was revealed that Lin had overseen the operations of Incognito Market for approximately four years, being responsible for managing vendors, staff, and customers, as well as being the primary decision-maker. Moreover, he managed to amass millions of dollars in personal profits during his tenure, helping Incognito Market become one of the largest online drug-selling platforms. The marketplace enabled the trade of drugs including amphetamines, MDMA, LSD, and cocaine using cryptocurrencies like Monero and Bitcoin, with Lin taking a 5% cut from each transaction made on the platform.
Legal Charges and Investigations
Lin is currently facing several charges, including money laundering, operating a criminal enterprise, narcotics conspiracy, and conspiracy to distribute misbranded and adulterated medication. The FBI was able to trace the ownership of Incognito Market back to Lin by monitoring cryptocurrency transfers from the marketplace to an exchange account registered under his name. Furthermore, an exchange shared Lin’s personal details such as his driver’s license, email, and phone number with law enforcement officials. U.S. Attorney Damian Williams emphasized that the dark web does not offer refuge to those engaging in illegal activities. Incognito Market ceased its operations in March after an exit scam left its users unable to retrieve their funds. Subsequently, the administrators initiated a tactic of extorting vendors by demanding payments to avoid the public exposure of customer information.
Response from the Accused
Despite the mounting allegations against him, Lin maintains his innocence and even conducted a workshop on cybercrime and cryptocurrency for police officers in Saint Lucia in early April. He identifies himself as a crypto developer and Monero enthusiast, showcasing his dedication to the field. Lin’s background contrasts with his involvement in the illicit drug trade, raising questions about his motives and intentions. If found guilty, Lin could face a life sentence for running a criminal enterprise, drawing parallels to the case of Ross Ulbricht, the mastermind behind the Silk Road marketplace, who received a similar verdict. The severity of the charges against Lin, particularly the narcotics conspiracy charge carrying a mandatory minimum sentence of 10 years, underscores the gravity of his alleged offenses.
The arrest of Rui-Siang Lin, the operator of Incognito Market, sheds light on the illicit activities flourishing in the dark corners of the internet. The case serves as a reminder of the sophisticated methods employed by individuals to evade law enforcement and profit from criminal endeavors. The law enforcement’s ability to crack down on such operations demonstrates the ongoing efforts to ensure accountability and deterrence in the digital realm. Despite Lin’s claims of innocence and his contributions to the cryptocurrency community, the evidence against him paints a different picture, highlighting the challenges posed by the intersection of technology and criminality.
