ChainCatcher news, according to TheBlock, the U.S. Department of Justice has disclosed that the federal government has successfully dismantled the dark web drug trading market Incognito Market, which involved cryptocurrency transactions totaling up to $80 million. According to the U.S. Department of Justice, the market facilitated the sale of various illegal drugs, and its main administrators have been arrested. The total transaction volume of the market reached $100 million, of which $80 million was in cryptocurrency, primarily Bitcoin and privacy-focused Monero (XMR).

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.

ChainCatcher news, the illegal drug trading dark web platform Incognito Market is suspected of exiting the scam earlier this month.Since last week, users of the platform have been unable to withdraw their Bitcoin and Monero, initially explained as a technical issue. Subsequently, a message on the Incognito Market homepage indicated that sensitive information would be released, including private messages, transaction information, and order details, and hinted that serious consequences would follow if the information were leaked to law enforcement.It is estimated that over 500,000 order details and 862,000 crypto transaction IDs are at risk. Vendors are required to pay between $100 and $20,000 "based on level" to protect their data, with prices doubling on April 1, and buyers may be able to delete records within weeks.