U.S. authorities have arrested and charged a Taiwanese national who operated a darknet drug bazaar called Incognito Market. The suspects are suspected of facilitating more than $100 million in cryptocurrency-denominated sales of illegal drugs, including fentanyl.
Prosecutors said Rui Xian Lin, 23, operated the secret market under the pseudonym “Pharaoh” and oversaw all operations, including employees, vendors and customers, and ran a “multimillion-dollar market.” It claims that it had ultimate decision-making authority over all aspects of its operations. From its establishment in October 2020 to its closure in March of this year.
“The dedicated prosecutors and law enforcement partners in the Southern District of New York are committed to protecting criminals, whether they operate on the street corners or in the dark corners of the internet,” U.S. Attorney Damien Williams said in a statement Monday. , we will pursue criminals.” “The so-called 'dark web' is not a safe place for those seeking to break the law.”
Ms. Lin was arrested at New York's John F. Kennedy Airport on Saturday and will appear before a magistrate judge in the Southern District of New York (SDNY) today. He faces one count of engaging in a continuing criminal enterprise, one count of drug conspiracy, one count of money laundering, and conspiracy to sell adulterated and counterfeit drug products. But he has one charge.
The first charge, also known as the “Kingpin Act,” carries a minimum sentence of life in prison. Ross Ulbricht, the founder and operator of the now-shuttered Silk Road darknet drug market, was also found guilty of the same crime and sentenced to life in prison. The drug conspiracy charge carries a mandatory minimum sentence of 10 years in prison and a maximum sentence of life in prison. His two other charges carry a combined maximum penalty of 25 years in prison.
Mr. Lin is said to have made millions of dollars operating the secret market, and was given a cut of 5% of the sales. According to prosecutors, darknet markets have their own “banks” that allow users to deposit cryptocurrencies into their accounts, giving them additional anonymity, and then allow the site to deduct fees from buyers. Automatically sent money to seller.
According to the complaint, Lin founded and operated Secret Market while an undergraduate student at the prestigious National Taiwan University.
Lin, a self-proclaimed cryptocurrency developer and fan of the privacy coin Monero, told X: In early April, we hosted a four-day workshop on cybercrime and virtual currencies for 30 police officers at the Saint Lucia Police Academy.
