A 23-year-old Taiwanese national, Rui-Siang Lin, also known as Ruisiang Lin, Pharoah, and faro, was recently apprehended at JFK airport in New York on suspicion of being the mastermind behind the highly successful dark web drugs marketplace, Incognito Market. The platform, which launched in 2020, reportedly generated around $100 million in revenue from the sale of illegal drugs and misbranded prescription medications to customers worldwide.
The Department of Justice revealed that the site mimicked the structure of legitimate e-commerce websites, encompassing branding, advertising strategies, and customer service. Drug dealers who signed up on the platform allegedly paid Lin a 5% commission on each drug sale, which was utilized to cover hosting expenses, employee salaries, and other operational costs.
Moreover, the Incognito Market operated its own banking system, allowing users to deposit cryptocurrency into personalized accounts. The platform would deduct the transaction fee of 5% and transfer the remaining amount to the seller’s account, ensuring anonymity for both parties.
Lin is accused of accumulating substantial profits from these transactions and closely monitoring the platform’s activities. In addition to trafficking hundreds of kilograms of cocaine and methamphetamines, the site facilitated the distribution of potentially lethal fentanyl pills disguised as oxycodone.
Special Agent in Charge Ivan Arvelo from Homeland Security Investigations (HSI) New York condemned Lin’s illicit operation, highlighting the sale of over $100 million worth of narcotics and the inclusion of deadly substances like fentanyl in the products. Arvelo emphasized Lin’s greed and lack of regard for public safety, citing an extortion attempt during the platform’s final days.
Facing multiple charges, Lin could potentially receive life sentences for engaging in a continuous criminal enterprise and narcotics conspiracy. Additionally, he may face a maximum penalty of 20 years for money laundering and up to five years for conspiring to sell adulterated and misbranded medications.
This arrest comes on the heels of German authorities dismantling Crimemarket, a prominent underground marketplace for drugs, weapons, and illicit services. Despite law enforcement efforts, a report by Chainalysis indicated that administrators and vendors on dark web platforms saw an increase in cryptocurrency-based revenues, reaching an estimated $1.7 billion in 2023.