A Rising Crypto Crime Expert

Rui-Siang Lin, a 23-year-old Taiwanese national, has been charged with running the notorious Incognito Market.

Lin, who operated under the pseudonym 'Pharoah,' was apprehended by U.S. authorities on May 18 at New York's John F. Kennedy Airport. This arrest concludes a four-year investigation into one of the darknet's largest drug bazaars.

Interestingly, Lin had recently conducted a four-day workshop on cybercrime and cryptocurrency for 30 police officers at the Saint Lucia Police Academy. This dual identity as a crypto crime expert and darknet operator paints a complex picture of Lin's activities and motivations.

The Scale of Operations

Incognito Market facilitated the sale of illegal narcotics such as fentanyl and prescription amphetamines like Adderall, MDMA, LSD, and cocaine.

The platform used cryptocurrencies like Monero and Bitcoin for transactions. Over its four years, the market transacted over $100 million in crypto.

Lin took a 5% cut from each sale, amassing millions in personal profit. His platform became a hub for illegal activities, connecting vendors, employees, and customers in a covert web of drug trade.

'The so-called dark web is not a sanctuary for individuals attempting to engage in unlawful activities,' said U.S. Attorney Damian Williams.

The Investigation

Federal authorities meticulously tracked the Incognito Market's crypto transactions.

The FBI identified Lin by following the money trail from the marketplace to an exchange account registered in his name. They confirmed his identity upon receiving Lin's driver's license, email, and phone number from the exchange.

FBI Assistant Director in Charge James Smith noted that Lin was the primary decision-maker for the marketplace's operations, overseeing everything from vendors to customers.

Extortion and Exit Scams

In March, Incognito Market ceased operations following an exit scam that prevented users from accessing their funds.

Subsequently, administrators began extorting vendors, demanding fees ranging from $100 to $20,000 to prevent their customer data from being publicly leaked. This act of desperation marked the end of the platform's illegal reign.

Legal Ramifications

Lin faces serious charges, including one count of money laundering, one count of engaging in a continuing criminal enterprise, one count of narcotics conspiracy, and one count of conspiracy to sell misbranded and adulterated medication.

He faces a mandatory life sentence on the criminal enterprise charge if convicted. The narcotics conspiracy charge carries a mandatory minimum sentence of 10 years and a maximum potential sentence of life imprisonment. The other charges add up to a maximum sentence of 25 years in prison.

A Grim Future

If convicted, Lin's fate could mirror that of Ross Ulbricht, the founder of the Silk Road darknet marketplace, who is serving a life sentence in prison for similar crimes.

The case marks a significant victory for law enforcement agencies in their ongoing battle against darknet drug markets and highlights the sophisticated techniques used to track and apprehend cybercriminals.