Feds nabs dark web drug marketplace transacting $80 million in cryptocurrency | Headlines | News | CoinMarketCap

05/21/2024 22:19
Feds nabs dark web drug marketplace transacting $80 million in cryptocurrency | Headlines | News | CoinMarketCap

The principal administrator behind Incognito Market, an illegal dark web marketplace facilitating crypto-based drug sales, has been arrested, …

The principal administrator behind Incognito Market, an illegal dark web marketplace facilitating crypto-based drug sales, has been arrested, according to the U.S. Department of Justice.

Incognito Market facilitated the sale of substances containing cocaine, heroin, methamphetamine, lysergic acid diethylamide (LSD), marijuana, oxycodone, ketamine, MDMA, amphetamine and fentanyl into the United States and across the globe.

An FBI complaint into Incognito Market revealed that the marketplace accrued $100 million in transactions — $80 million in cryptocurrency, mainly bitcoin and the privacy-focused coin Monero (XMR).

The owner, a Taiwanese national named Rui-Siang Lin, also known as Pharoah or faro, was arrested at the John F. Kennedy Airport on May 18. The FBI investigation charged Lin …

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