US authorities have announced the arrest of the alleged mastermind of a notorious dark web marketplace that allowed users to buy and sell illegal drugs anonymously.
In a statement, the U.S. Department of Justice (DOJ) says that 23-year-old Rui-siang Lin, from Taiwan, was arrested at John F. Kennedy Airport on May 18th and subsequently charged for allegedly owning and operating Incognito Market under the pseudonym “Pharoah” or “Faro.”
The DOJ says Incognito sold more than $100 million worth of illegal drugs and misbranded prescription medication from when it was formed in October 2020 until it was shut down in March 2024. Users from around the world also purportedly used cryptocurrencies such as Bitcoin (BTC) and Monero (XMR) to transact on the illicit marketplace.
Says Federal Bureau of Investigation (FBI) Assistant Director in Charge James Smith,
“For nearly four years, Rui-Siang Lin allegedly operated ‘Incognito Market,’ one of the largest online platforms for narcotics sales, conducting $100 million in illicit narcotics transactions and reaping millions of dollars in personal profits. Under the promise of anonymity, Lin’s alleged operation offered the purchase of lethal drugs and fraudulent prescription medication on a global scale.”
Lin is alleged to have had the ultimate decision-making authority over every aspect of Incognito’s operation. He is also said to have had control of more than 1,000 vendors and over 200,000 customers.
Reads the complaint filed by FBI Task Force Officer Mark Rubins,
“As the principal administrator of Marketplace-1, LIN profits the most from Marketplace-1’s activities. LIN also implements policies for the site, and ultimately determines whether a particular vendor is permitted to sell narcotics on Marketplace-1.”
Lin is charged with one count of engaging in a continuing criminal enterprise, one count of narcotics conspiracy, one count of money laundering and one count of conspiracy to sell adulterated and misbranded medication.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney