Monday, December 23, 2024
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The owner of the darknet market Incognito Market was arrested for selling drugs for cryptocurrency

23-year-old Taiwanese citizen Rui-Siang Lin was accused of facilitating the sale of illegal drugs through the darknet market Incognito Market. It is known that cryptocurrencies were used for trading.

The report notes that for financial transactions, Incognito Market had its “own bank”, which allowed customers to pay for purchases using cryptocurrencies from their accounts.

After this, the crypto assets were sent to the seller’s bank account minus a 5% commission. The so-called "bank" allowed buyers and sellers to remain anonymous.

Ruya-Xiang Lin was arrested on May 18, 2024 at John F. Kennedy Airport and will appear in court on May 21. According to the US Department of Justice, the man was also charged with engaging in a sustained criminal enterprise, conspiracy to commit fraud, money laundering and other counts. If Lin is found guilty, he faces both 10 years' imprisonment and life imprisonment.

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Source INCRYPTED
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