US DOJ Seizes $100M in Crypto from Dark Web Drug Trafficking Operation

In a recent crackdown, the US Department of Justice (DOJ) arrested Rui-Siang Lin, a 23-year-old from Taiwan, for allegedly running a dark web drug marketplace named "Incognito Market." The platform is accused of facilitating over $100 million worth of illegal narcotics transactions globally.

Inside Incognito Market: The Rise and Fall of a Dark Web Narcotics Hub

Incognito Market surfaced in October 2020, operating as an online narcotics hub on the dark web until its closure in March. It enabled transactions in cryptocurrencies, predominantly involving cocaine and methamphetamines. Lin, known as "Pharoah" or "Faro" online, led the market's operations, overseeing employees, vendors, and customers.

Cracking Down on Dark Web Criminals: The Case of Incognito Market

US Attorney Damian Williams emphasized the pursuit of criminal actors, regardless of their operation's location, be it street corners or the "dark corners of the internet."

Incognito Market mimicked legitimate e-commerce sites, offering branding, advertising, and customer service. Users accessed the platform through unique credentials, browsing thousands of drug listings.

The marketplace allegedly sold various narcotics and misbranded prescription drugs, including heroin, LSD, MDMA, and oxycodone.

Vendors paid an admission fee to list narcotics on the platform, with Incognito Market receiving 5% of each sale. Lin amassed substantial profits from these transactions.

Incognito Market facilitated transactions through a "bank," allowing users to deposit and transfer cryptocurrencies. A 5% fee was charged for each transaction.

Arrest at JFK Airport: Lin Faces Serious Charges with Potential Life Imprisonment

Lin was apprehended at John F. Kennedy Airport on May 18 and is set to appear in federal court. If convicted, he faces severe penalties, including life imprisonment for narcotics conspiracy and up to 20 years for money laundering and conspiracy to distribute narcotics.

The arrest and closure of Incognito Market underscore law enforcement's commitment to combating illegal activities in the digital realm, protecting communities from online drug trafficking.