Dark web market owner arrested in New York after FBI traces crypto
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: May 21 2024- Arrest of Dark Web Marketplace Operator: Rui-Siang Lin, known as "Pharoah," arrested in New York for running a $100 million dark web narcotics marketplace.
- Incognito Market Details: The platform operated on the dark web, allowing users to buy and sell drugs using Bitcoin and Monero.
- Charges Against Lin: Lin charged with criminal enterprise, narcotics conspiracy, selling misbranded medication, and money laundering.
- FBI Investigation: FBI traced crypto transfers to Lin's accounts, connecting him to the dark web site.
- Forfeiture and Legal Consequences: Lin faces mandatory life sentence if convicted; Justice Department issued forfeiture for his crypto holdings.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
