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Home News

Dark Web Market Owner Arrested in New York

May 20, 2024
Reading Time: 3 mins read
in News
Dark Web Market Owner Arrested in New York

Rui-Siang Lin, the alleged owner and operator of Incognito Market, a notorious dark web marketplace for illegal narcotics, was arrested at John F. Kennedy Airport in New York on May 18. Incognito Market, operational since October 2020, facilitated the sale of over $100 million worth of narcotics, including methamphetamines, cocaine, amphetamine, and ecstasy. Law enforcement shut down the marketplace in March 2024, following extensive investigations.

Lin, also known by aliases Pharoah and faro, managed all operations of Incognito Market, overseeing employees, vendors, and customers. The Justice Department highlighted Lin’s complete control over the marketplace, which included managing more than 1,000 vendors and over 200,000 customers. Transactions on the platform were conducted using cryptocurrency via the “Incognito Bank,” a payment system integral to the marketplace.

Law enforcement agents executed search warrants in 2022 and 2023, gaining access to servers that hosted the marketplace’s data and DDoS prevention system. The data revealed extensive details, including 1,312 vendor accounts, 255,519 customer accounts, and 224,791 transactions. The marketplace generated $83.6 million in revenue, with Lin allegedly earning over $4.1 million from a 5% commission. In March 2024, Lin abruptly shut down the marketplace, extorting additional funds from users by threatening to publish transaction histories.

Lin faces multiple charges, including participating in a continuing criminal enterprise, narcotics conspiracy, money laundering, and selling adulterated and misbranded medication. If found guilty, he could receive a mandatory minimum sentence of life in prison. Lin is set to appear in Manhattan federal court before U.S. Magistrate Judge Willis.

Reference:
  • Incognito Dark Web Market Owner Arrested for $100 Million Drug Operation
Tags: AirportCyber NewsCyber News 2024Cyber threatsCybersecurityIncognito MarketJohn F. Kennedy AirportMay 2024New YorkRui-Siang Lin
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