This post was originally published on Coinspeaker
Key NotesRui-Siang Lin, the founder of Incognito Market, will now spend the next 30 years in jail.He was accused of operating a digital asset dark web marketplace that facilitated more than $105 million in illicit narcotics sales.Lin will also get another five years of supervised release.
Incognito Market founder Rui-Siang Lin was recently sentenced to 30 years in prison by a United States judge. This judgment was issued as a consequence of operating a digital asset dark web marketplace that facilitated more than $105 million in illicit narcotics sales. This covered more than a ton of these drugs within four years.
$105 Million Drug Sales Through Crypto Platform
The US Attorney’s Office for the Southern District of New York released a statement on Feb. 3, indicting 24-year-old Rui-Siang Lin. The Incognito Market founder allegedly depended on crypto payments and an internal system dubbed “Incognito Bank” to allow buyers and vendors to trade crypto anonymously.
Beyond crypto, this platform was used to propagate several illicit activities, including the sales of narcotics. Just between its launch in October 2020 and its shutdown in March 2024, Incognito Bank had sold around $105 million worth of narcotics, according to the prosecutor’s statement.
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