• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

🔥 DCA Live: Your 🔮 Week-Ahead Alpha Drop 🚀

2025-06-23

Who is selling BTC on Sundays?

2025-06-23

💡 Pro Tip: Don’t Fear the Lull. Fear Missing the Exit 🛑📉📈

2025-06-22

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    A Step-by-Step Guide for Beginners

    2025-06-20

    Long and Short Positions in Crypto Explained for Beginners

    2025-06-20

    What Is Fully Diluted Valuation (FDV) in Crypto?

    2025-06-12

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    2025-06-09

    What Is Crypto Staking? How to Earn Crypto by Holding It

    2025-06-05
  • Videos

    🔥 DCA Live: Your 🔮 Week-Ahead Alpha Drop 🚀

    2025-06-23

    Who is selling BTC on Sundays?

    2025-06-23

    💡 Pro Tip: Don’t Fear the Lull. Fear Missing the Exit 🛑📉📈

    2025-06-22

    Monarchy, Oligarchy, Democracy, And Bitcoin

    2025-06-21

    How Leverage Could Make You Rich—or Wipe You Out!

    2025-06-21
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Scams»Feds Arrest Owner of $100,000,000 Dark Web Marketplace Using Crypto To Process Drug Transactions
Scams

Feds Arrest Owner of $100,000,000 Dark Web Marketplace Using Crypto To Process Drug Transactions

2024-05-27No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Scammer Nabs $55,000 in Crypto by Duping the U.S. Drug Enforcement Agency: Report
Share
Facebook Twitter LinkedIn Pinterest Email

US authorities have announced the arrest of the alleged mastermind of a notorious dark web marketplace that allowed users to buy and sell illegal drugs anonymously.

In a statement, the U.S. Department of Justice (DOJ) says that 23-year-old Rui-siang Lin, from Taiwan, was arrested at John F. Kennedy Airport on May 18th and subsequently charged for allegedly owning and operating Incognito Market under the pseudonym “Pharoah” or “Faro.”

The DOJ says Incognito sold more than $100 million worth of illegal drugs and misbranded prescription medication from when it was formed in October 2020 until it was shut down in March 2024. Users from around the world also purportedly used cryptocurrencies such as Bitcoin (BTC) and Monero (XMR) to transact on the illicit marketplace.

Says Federal Bureau of Investigation (FBI) Assistant Director in Charge James Smith,

“For nearly four years, Rui-Siang Lin allegedly operated ‘Incognito Market,’ one of the largest online platforms for narcotics sales, conducting $100 million in illicit narcotics transactions and reaping millions of dollars in personal profits.  Under the promise of anonymity, Lin’s alleged operation offered the purchase of lethal drugs and fraudulent prescription medication on a global scale.”

Lin is alleged to have had the ultimate decision-making authority over every aspect of Incognito’s operation. He is also said to have had control of more than 1,000 vendors and over 200,000 customers.

Reads the complaint filed by FBI Task Force Officer Mark Rubins,

“As the principal administrator of Marketplace-1, LIN profits the most from Marketplace-1’s activities. LIN also implements policies for the site, and ultimately determines whether a particular vendor is permitted to sell narcotics on Marketplace-1.”

Lin is charged with one count of engaging in a continuing criminal enterprise, one count of narcotics conspiracy, one count of money laundering and one count of conspiracy to sell adulterated and misbranded medication.

See also  Bitcoin (BTC) Gearing Up for Post-Halving Parabola, According to Crypto Analyst – But There’s a Catch

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney

arrest Crypto DARK Drug Feds marketplace Owner process transactions Web
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Long and Short Positions in Crypto Explained for Beginners

2025-06-20

You’re Hired! North Korea’s new crypto scam starts with a job offer

2025-06-20

This Crypto Sector is SUPER HOT | FOMC Results

2025-06-18

😵 OCTA: The Crypto FOMO Storm Is HERE! 🌪️💎

2025-06-17
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Videos

Bitcoin vs Global Money Supply: Pump Soon?

2025-04-16

Bitcoin #Macro #Onchain #ETFs JOIN THE FAMILY: http://www.patreon.com/investanswers IA MODELS: …

Altcoins

Ethereum [ETH] bounces from $1600 but bearish bias remains: Here’s why

2023-03-02

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice…

Videos

Bitcoin Will Breach $1,000,000 in 90 Days

2023-03-18

Today let’s talk about Bitcoin, Crypto and the US Market. Will distrust in banks and…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

🔥 DCA Live: Your 🔮 Week-Ahead Alpha Drop 🚀

2025-06-23

Who is selling BTC on Sundays?

2025-06-23

💡 Pro Tip: Don’t Fear the Lull. Fear Missing the Exit 🛑📉📈

2025-06-22

Monarchy, Oligarchy, Democracy, And Bitcoin

2025-06-21
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 107,450.79
ethereum
Ethereum (ETH) $ 2,419.02
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.19
bnb
BNB (BNB) $ 645.66
solana
Solana (SOL) $ 143.58
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.272142
dogecoin
Dogecoin (DOGE) $ 0.165088
staked-ether
Lido Staked Ether (STETH) $ 2,417.14
bitcoin
Bitcoin (BTC) $ 107,450.79
ethereum
Ethereum (ETH) $ 2,419.02
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.19
bnb
BNB (BNB) $ 645.66
solana
Solana (SOL) $ 143.58
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.272142
dogecoin
Dogecoin (DOGE) $ 0.165088
staked-ether
Lido Staked Ether (STETH) $ 2,417.14