Bitrabo Editorial
Recently, the US Department of Justice (DOJ) made an arrest in connection to a major dark web drug marketplace. The 23-year-old suspect from Taiwan, known as Rui-Siang Lin or “Pharoah” and “Faro,” allegedly ran the illicit platform called the “Incognito Market.” This marketplace was responsible for facilitating anonymous transactions involving illegal narcotics using crypto assets, totaling over $100 million globally.
Uncovering a $100 Million Crypto Scheme
Incognito Market emerged in October 2020 as a hidden online marketplace operating on the dark web, where it conducted transactions exceeding $100 million in narcotics, including cocaine and methamphetamines, until its shutdown in March. Accessible through the Tor browser, this platform catered to users worldwide, overseen by Lin under the aliases “Pharoah” and “Faro.” US Attorney Damian Williams condemned Lin’s exploitation of the platform for personal gain, emphasizing the pursuit of criminal actors regardless of their operational domain.
Arrest of Dark Web Drug Lord
Incognito Market mimicked legitimate e-commerce platforms by offering branding, advertising, and customer service to streamline global narcotics transactions. Users logged in with unique credentials to browse a wide array of drug listings, including heroin, cocaine, LSD, and more. Vendors paid an admission fee to list their products, with Incognito Market pocketing 5% of each sale, resulting in substantial profits for Lin.
The marketplace also featured a “digital bank” enabling users to deposit and transfer crypto assets for transactions, with a 5% fee levied by Incognito Market. Lin was apprehended at John F. Kennedy Airport and faces severe penalties if convicted, including life imprisonment for narcotics conspiracy, 20 years for money laundering, and 20 years for drug distribution conspiracy.
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