US DOJ Seizes $100M In Crypto From Major Dark Web Drug Trafficking Operation
- Rui-Siang Lin, a 23-year-old from Taiwan, was arrested by the US DOJ for allegedly owning and operating the dark web drug marketplace "Incognito Market." - The platform facilitated over $100 million worth of crypto transactions for illegal narcotics globally. - Lin, operating under the pseudonyms "Pharoah" and "Faro," oversaw all operations of the marketplace. - Incognito Market functioned like a legitimate e-commerce site, allowing users to access it via the Tor web browser on the darknet and facilitating seamless narcotics transactions. - Vendors paid 5% of the purchase price to Incognito Market, and the platform had a "bank" for users to deposit crypto assets. - Lin faces severe penalties, including a maximum sentence of life imprisonment if found guilty.
