As a researcher with a background in criminology and cybercrime, I find the case of Rui-Siang Lin, also known as Pharoah or Faro, to be both intriguing and concerning. The alleged operation of the “Incognito Market,” a dark web drug marketplace facilitating crypto-based transactions worth over $100 million in illegal narcotics, is a stark reminder of the growing complexity and reach of cybercrime.
The US Department of Justice (DOJ) recently apprehended Rui-Siang Lin, a 23-year-old suspect from Taiwan. Lin, who uses aliases Pharoah and Faro, is believed to have managed a hidden drug marketplace on the dark web named “Incognito Market.”
The platform is reportedly used for conducting clandestine cryptocurrency deals worth over $100 million globally for illicit narcotics transactions anonymously.
$100 Million Crypto Operation Exposed
Based on the accusations in the complaint and indictment, Incognito Market came onto the scene as an illicit online marketplace for narcotics on the dark web around October 2020. Throughout its operation until its shutdown in March, this platform reportedly enabled transactions totaling over $100 million in crypto for the purchase of drugs such as cocaine and methamphetamines.
For users around the world with an internet connection, Incognito Market can be accessed through the Tor browser in the darknet. Lin, known online as “Pharoah” or “Faro,” managed and supervised all market activities, which encompassed employees, vendors, and clientele.
US Attorney Damian Williams of the Southern District of New York stressed that Lin’s suspected activities took advantage of the community for financial gain. He made it clear that individuals who engage in criminal behavior, whether it occurs on the streets or in the hidden recesses of the internet, would be relentlessly pursued by law enforcement.
Dark Web Drug Lord Arrested
The DOJ alleges that Incognito Market was created to make international drug sales easier, achieving this through elements typical of reputable e-commerce platforms like branding, marketing, and customer support.
According to reports, users were able to log in to the marketplace using distinct username and password combinations, enabling them to browse through countless listings and select the desired drugs.
The allegation also includes the claim that the platform was involved in selling illicit narcotics and falsely labeled prescription medications. Specific substances mentioned in this regard are heroin, cocaine, LSD, MDMA, oxycodone, methamphetamines, ketamine, and alprazolam.
To join Incognito Market as a seller, people needed to sign up on the platform and make a registration fee payment. In return, they could post and sell illicit substances. For every transaction, vendors were required to give a 5% cut to Incognito Market. Lin amassed substantial wealth from this business venture.
It’s intriguing how the marketplace featured a “crypto savings account” where users could securely store their digital assets. Following a transaction, the cryptocurrency moved from the buyer’s account to the seller’s account, with Incognito Market collecting a 5% commission.
I got taken into custody at JFK Airport on the 18th of May. My upcoming court appearance is scheduled before Magistrate Judge Willis in Manhattan’s federal court.
Should Lin be convicted, he may encounter significant consequences, such as a possible life imprisonment term for narcotics conspiracy, a maximum incarceration period of 20 years for money laundering, and another 20 years for conspiring to distribute narcotics.
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2024-05-22 03:11