Title: Darknet Drug Dealer ‘Pharaoh’ Apprehended in New York for Enabling $100M Crypto Sales
Tanzeel Akhtar
Updated: May 21, 2024, 02:16 EDT | 2 min read
A Taiwanese national known as Rui-Siang Lin, also known as ‘Pharaoh,’ has been arrested by U.S. authorities for his involvement in the dark web drug trade. Lin allegedly orchestrated over $100 million in cryptocurrency sales of illicit drugs and narcotics.
Operating under the alias “Pharaoh,” Lin managed the online marketplace called “Incognito Market” for nearly four years. He was apprehended at New York’s John F. Kennedy Airport on Saturday. The U.S. attorney’s office stated that Lin sold dangerous substances like fentanyl to customers worldwide.
The successful capture of Lin was made possible through the collaborative efforts of U.S. authorities, the FBI, and the El Dorado Task Force’s Darkweb and Cryptocurrency Task Force. These organizations utilized cutting-edge techniques to target and apprehend sophisticated criminals.
Charges Against ‘Pharaoh’
As per the statement, Lin faces several charges, including engaging in a continuing criminal enterprise, which carries a mandatory minimum sentence of life imprisonment. Additionally, he is charged with narcotics conspiracy, which has a mandatory minimum sentence of 10 years in prison and a maximum potential sentence of life imprisonment.
Lin is also charged with money laundering, which can result in a maximum potential sentence of 20 years in prison. Lastly, he faces a charge of conspiracy to sell adulterated and misbranded medication, carrying a maximum potential sentence of five years in prison.
U.S. Attorney Damian Williams stated, “Rui-Siang Lin operated a sophisticated and dangerous online narcotics marketplace, profiting millions of dollars at the community’s expense. The Southern District of New York, along with our law enforcement partners, will vigorously pursue criminal actors, irrespective of their operating location.”
Operating Incognito Market for Four Years
‘Pharaoh’ allegedly ran the Incognito Market, identified by the FBI as one of the largest online platforms for narcotics sales, for nearly four years. During this time, the marketplace facilitated over $100 million in illegal drug transactions, generating substantial personal profits.
Each listing on the Incognito Market was managed by individual vendors who paid a 5% transaction fee to ‘Pharaoh.’ These fees were utilized to cover the marketplace’s operational costs, including employee salaries and computer servers.
Incognito Market had its own banking system to enable seamless transactions. Users could deposit cryptocurrencies into their “bank accounts” on the site. After completing a narcotics transaction, the crypto from the buyer’s account was transferred to the seller’s account, with Incognito Market deducting a 5% fee, according to U.S. authorities.
FBI Assistant Director in Charge James Smith stated, “Lin’s alleged operation offered the purchase of lethal drugs and fraudulent prescription medication on a global scale in exchange for anonymity. The FBI remains committed to dismantling criminal enterprises, especially those distributing illegal substances on the dark web.”
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