Pharaoh Arrested: Taiwanese IT Specialist Behind $100M Dark Web Drug Empire
Taiwanese national Rui-Siang Lin, known online as 'Pharaoh', has been arrested in the US for operating the high-security dark web marketplace Incognito. Since late 2020, Lin sold approximately $100 million worth of drugs through the platform, using it to launder around $5 million in bitcoin.
Lin, an IT specialist, worked at the St. Lucia embassy in Taipei while secretly running Incognito. The platform accepted bitcoin and Monero, and traded drugs excluding fentanyl, ensuring high security standards. In March 2024, Lin abruptly shut down Incognito and demanded a $20,000 'unlock' fee from users to prevent their information from being leaked.
The FBI traced Lin's bitcoin transactions, leading to his arrest at John F. Kennedy Airport in New York. Lin had received a certification from blockchain analytics firm Chainalysis just a week before his arrest, ironically aiding in his own downfall. Prior to his arrest, Lin had trained local police in 'Cyber Crime and Cryptocurrency' at the embassy, demonstrating a chilling double life.
Lin faces a potential life sentence for various drug and cybercrime offenses. Despite his sophisticated operations and high security standards, Lin's use of bitcoin and the dark web ultimately led to his downfall. His arrest serves as a reminder of the ongoing battle between law enforcement and cybercriminals in the digital age.
