""sold more than $105 million of narcotics-including more than 1,000 kilograms of cocaine, over 1,000 kilograms of methamphetamines, hundreds of kilograms of other narcotics, and more than 4 kilograms of purported 'oxycodone'," between 2020 and 2024. Jay Clayton, U.S. Attorney for the Southern District of New York, announced the sentencing on Tuesday, calling Lin "one of the world's most prolific drug traffickers," taking a five percent cut from the crypto transactions as a "bank account" while keeping buyers and sellers anonymous from each other."
"By comparison, Ross "Dread Pirate Roberts" Ulbricht, who ran the Silk Road dark web marketplace, initially received a life sentence after it was shut down in 2013, and was pardoned by President Trump early last year. Thomas White created Silk Road 2.0 a year after the first one shut down, and was eventually sentenced to five years in prison in the UK."
""In March 2024, Lin closed Incognito by stealing at least $1 million that its users had on deposit in the Incognito Bank. In addition, Lin attempted to extort his coconspirators. LIN demanded that the Incognito buyers and vendors pay him, or he would publish their user history and cryptocurrency addresses online. In a posting on the Incognito site, LIN wrote "YES, THIS IS AN EXTORTION!!!," as depicted below.""
Rui-Siang Lin received a 30-year sentence for operating Incognito Market, which sold $105 million+ in narcotics from 2020–2024. Alleged sales included more than 1,000 kilograms each of cocaine and methamphetamine, hundreds of kilograms of other drugs, and over four kilograms of purported oxycodone. Lin took a five percent cut from cryptocurrency transactions while keeping buyers and sellers anonymous. He pleaded guilty to narcotics conspiracy, money laundering, and conspiracy to sell adulterated and misbranded medication. Authorities identified Lin after he registered the domain with his real name and address. In March 2024 he closed Incognito, stole at least $1 million from user deposits, and attempted to extort users by threatening to publish their histories and crypto addresses.
Read at The Verge
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