Taiwanese domestic drug trafficker Rui-Siang Lin, “Pharaoh,” who allegedly made more than $100 million selling illegal drugs in cryptocurrencies, has been arrested by US authorities.
Lin used the identity “Pharoah” to operate the online “Incognito Market” for nearly four years and was arrested Saturday at John F. Kennedy Airport in New York. In a statement, the U.S. Attorney’s Office said Lin allegedly sold illegal drugs, including deadly fentanyl, to customers around the world.
To successfully capture Lin, U.S. authorities and the FBI worked with the Darkweb and Cryptocurrency Task Force El Dorado, using state-of-the-art techniques to target clever criminals.
Allegations against Pharaoh
According to the statement, Lin was charged with involvement in criminal activity, for which he faces a life sentence. One count of drug conspiracy, which carries a mandatory minimum sentence of 10 years in prison and a maximum potential life sentence. One charge of money laundering, which carries a maximum potential penalty of 20 years in prison; and one case of conspiracy to sell adulterated and misbranded drugs, which carries a maximum potential penalty of five years in prison.
“As alleged, Rui-Siang Lin operated a sophisticated and dangerous online drug marketplace through which he made millions of dollars at the expense of the community,” US Attorney Damian Williams said in a press release.
“The dedicated prosecutors in the Southern District of New York and our law enforcement partners will go after criminals whether they operate on street corners or in dark corners of the Internet. The so-called Darknet is not a safe haven for those who want to break the law,” Williams added.
Incognito marketplace operated for four years
“Pharaoh” allegedly managed the Incognito marketplace, which the FBI describes as “one of the largest online drug sales platforms” for nearly four years. The platform conducted $100 million worth of illegal drug transactions and generated multi-million dollar personal profits.
Each ad on the Incognito Marketplace was sold by a specific seller, who paid “Pharaoh” 5% on each transaction. This fee then financed Incognito Market’s operations, including paying employees’ salaries and computer servers.
To facilitate transactions, Incognito Market had its own bank, which allowed users to deposit cryptocurrencies on the site into their own “bank accounts.” U.S. authorities reported that once a drug transaction was finalized, cryptocurrencies from the buyer’s bank account were transferred to the seller’s bank account, minus a 5% fee charged by Incognito.
“Under the condition of anonymity, Lin’s alleged operation offered to purchase deadly drugs and counterfeit prescription drugs on a global scale. The FBI is committed to tracking down and dismantling all criminal enterprises, especially those whose leaders distribute illegal substances on the dark web,” – FBI Deputy Director in charge of the case James Smith said .
