23-year-old Taiwanese alternative military service man arrested in New York, suspected of operating dark web drug market, making profits exceeding one million US dollars

The press release from the United States Attorney's Office in New York stated that Taiwanese citizen Rui-Siang Lin was arrested at a New York airport for allegedly founding, operating, and profiting from the dark web drug market "Incognito Market." The market was reported to have a size exceeding $100 million, with his personal illicit profits amounting to millions of dollars.

Lin Arrested in New York, Suspected of Operating Dark Web Drug Market

A statement indicated that Taiwanese citizen Rui-Siang Lin was apprehended by the FBI at John F. Kennedy International Airport in New York, accused of operating a dark web drug market and profiting from it.

The FBI stated that Lin, using the alias "Pharoah," created and operated a drug trading market called "Incognito Market" on the dark web based on the Tor browser, allowing users to purchase controlled substances such as cocaine, LSD, and methamphetamine using Bitcoin and Monero (XMR), with the market taking a 5% commission from each transaction.

It is alleged that since its establishment in October 2020 when Lin was studying at National Taiwan University, the market has conducted illegal drug transactions exceeding $100 million, with Lin personally profiting millions of dollars from it.

FBI Investigator Mark Rubens emphasized in the complaint that Lin's cryptocurrency transactions had been under FBI surveillance for some time, and the financial flow of Incognito Market was found to be closely associated with a wallet owned by Lin:

Data shows that the funds in Lin's cryptocurrency exchange account grew along with the scale of Incognito Market, increasing from around $63,000 in 2021 to nearly $4.2 million in 2023.

Attempted RugPull and User Data Ransom

Furthermore, some media and forums previously pointed out that in March of this year, Incognito Market attempted to block user withdrawals in an attempt to misappropriate millions of dollars, sparking widespread controversy.

Subsequently, market administrators began threatening and extorting all suppliers and users, demanding fees ranging from $100 to $20,000 based on past transaction volumes, or else they would expose users' cryptocurrency transactions and chat records.

Authorities: Dark Web is not a Safe Haven for Criminals

Southern District of New York Prosecutor Damian Williams sternly condemned the situation in a statement:

Whether on the streets or in the dark corners of the internet, so-called "dark web" is not a safe haven for those attempting illegal activities.

The statement mentioned that Lin is charged with crimes including operating a criminal enterprise, money laundering, conspiracy to distribute narcotics, and conspiracy to sell counterfeit or illegal drugs. If convicted on all charges, he could face a minimum of 25 years to life in prison.

Previously, founders of major dark web markets such as Silk Road and Hydra Market faced similar charges and were sentenced to life imprisonment, setting a precedent that could influence Lin's case.

Bitcoin Seized by US Treasury! US Court Officially Confiscates Silk Road Case Bitcoin: Nearly 70,000 BTC

Ministry of Foreign Affairs: Maintaining Contact with US Authorities

In response, a Ministry of Foreign Affairs spokesperson confirmed today that Lin served as an information specialist in the National Conscription Agency for the 112th year, was dispatched to Saint Lucia in November of the previous year, and was expected to retire in July of this year.

The spokesperson added that Lin had previously requested leave according to procedure and departed Saint Lucia on May 18, only to be arrested by the authorities the following day. Colleagues in the US and local law enforcement will continue to maintain contact.