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Every pharaoh has a muse: Inconito drug market manager arrested for tracking his digital currencies

Pharaoh, pseudonym of one of the Darknet's biggest drug traffickers, was arrested in New York and now faces a life sentence for making more than $4 million in cryptocurrency selling drugs online. last year.

Arrest of “Pharaon”, one of the biggest drug traffickers in the Darknet network.

The manager of one of the market's largest illegal markets has been arrested Dark Web Darknet, the Inconito market, which was just captured. He allegedly made more than $4 million by facilitating drug sales through an illegal “crypto bank.” However, tracking his cryptocurrencies led to his arrest.

Roy-Siang Lin, a Taiwanese drug trafficker known under the pseudonym "Pharaon", was responsible for more than 4 years for the Incognito Marketplace, the platform that operated until last March and allowed users to buying and selling drugs worth up to $100 million.

The marketplace used a third-party escrow system to secure buyers' funds. has been used Digital currencies, including Bitcoin (BTC) and Monero (XMR), an asset that allows anonymous transactions. The site allowed sellers to sell their stocks of cocaine and several types of narcotics and hallucinogens.

But Rui-Siang Lin left a mark. After sending the digital currencies to a large-scale central exchange. We don't know the name of the exchange yet, however, a few of them still offer the XMR exchange service. Additionally, Rui-Siang Lin’s cryptocurrencies were frozen on the Kraken exchange.

And according to For the press release issued by the authorities, he was arrested at JFK airport in New York. The FBI-led operation was highly successful thanks to the bureau's collaboration with a task force specializing in the dark web and digital currencies.

👈Read more: New reports warn of the use of cryptocurrencies in drug trafficking

Inkonito market leader faces life in prison after his cryptocurrencies are traced

In total, Inkonito's market leader's account reportedly reached $4.2 million over the course of 2023. The market was then abruptly shut down last March, highlighting user accusations of a " scam to pull the rug out from under us.”

The platform created by Pharaon was “one of the largest online drug sales platforms,” according to the FBI. In 4 years, she led and facilitated more than $100 million in illicit transactions. While the personal profits were roughly equivalent.

Inconito Market deducts a 5% fee from each sale made by Pharaon. The platform then redistributed these fees to finance market operations, employee salaries and the platform's computer servers.

👈Read more: Report: China Clarifies Misuse of Cryptocurrencies in Drug Trafficking

In any case, Pharaon will face justice and the charges against him for participation in a criminal enterprise, drug trafficking conspiracy, money laundering and conspiracy to sell counterfeit drugs. In total, Lin faces a prison sentence of 35 years to life.

Finally, the news shows that investigators now have the adequate tools to track cryptocurrencies. Although Rui-Siang Lin used the anonymous original Monero (XMR), but law enforcement was able to link the accounts to him.

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