U.S. authorities have arrested the operator of the dark web drug marketplace Incognito Market

2024-05-21 12:01:53

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ChainCatcher news, according to CoinDesk, U.S. authorities recently arrested a Taiwanese man, Rui-Siang Lin, accusing him of operating a dark web drug market called "Incognito Market" and facilitating over $100 million in illegal drug sales through cryptocurrency. Prosecutors revealed that Rui-Siang Lin, using the alias "Pharoah," oversaw all operational activities of the market from its establishment in October 2020 until its closure in March this year. "Incognito Market" had its own "banking" system, allowing users to conduct anonymous transactions through cryptocurrency, further increasing the obscurity of the trades. Rui-Siang Lin began creating and operating the market during his university years.

Rui-Siang Lin was arrested on Saturday at New York's Kennedy Airport and is scheduled to appear today before a judge in the Southern District of New York (SDNY). He faces a charge of continuing to participate in a criminal enterprise, a drug conspiracy charge, a money laundering charge, and a conspiracy charge for selling counterfeit and fake drugs.

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