A Taiwanese national, Rui-Siang Lin, is facing the possibility of multiple life sentences after being apprehended on suspicion of owning and operating one of the dark web’s most successful drugs marketplaces. Lin, also known as Ruisiang Lin, Pharoah, and faro, was taken into custody at JFK airport in New York over the weekend. The 23-year-old stands accused of managing the Incognito Market, which has reportedly generated an estimated $100 million in revenue from the sale of illegal drugs and misbranded prescription medications since its establishment in 2020.
The Department of Justice (DoJ) revealed that the site closely mimicked legitimate e-commerce platforms in terms of branding, advertising, and customer service. Dealers who signed up on the platform allegedly paid Lin a 5% commission on the sale price of each drug, which was utilized to cover hosting fees, employee salaries, and other operational costs. Additionally, the marketplace operated its own bank, allowing users to deposit cryptocurrency into personalized accounts for transactions. The site would deduct the 5% transaction fee and transfer the remaining amount to the sellers’ accounts, ensuring anonymity for both parties.
Aside from facilitating the distribution of hundreds of kilograms of cocaine and methamphetamines, the Incognito Market was also utilized for the sale of potentially lethal fentanyl pills disguised as oxycodone prescription medication. Special Agent in Charge Ivan Arvelo of Homeland Security Investigations (HSI) New York condemned Lin’s alleged actions, emphasizing the significant risk posed by the sale of mislabeled drugs containing fentanyl.
Lin is now confronted with mandatory minimum sentences of life imprisonment for participating in a continuous criminal enterprise and narcotics conspiracy. He could also face a maximum penalty of 20 years for money laundering and up to five years for conspiracy to sell adulterated and misbranded medication. The arrest of Lin comes on the heels of German authorities dismantling Crimemarket, a prominent underground marketplace for drugs, weapons, and illicit services.
Chainalysis reported that administrators and vendors on dark web platforms experienced a profitable year in 2023, amassing an estimated $1.7 billion in cryptocurrency-based revenues. The apprehension of individuals like Rui-Siang Lin underscores the ongoing efforts of law enforcement agencies to combat illegal activities on the dark web and hold perpetrators accountable for their actions.