The Incognito Market, a platform enabling the online sale of illicit substances using cryptocurrencies, was taken down by authorities who traced blockchain transactions to its operator. In a Manhattan courtroom, Rui-Siang Lin received a 30-year sentence after his market facilitated over $105 million in drug sales from its launch in October 2020 until it was shut down in March 2024.

Lin, who admitted his involvement in December 2024, faced charges of drug distribution, money laundering, and selling misleading medications. His platform allowed users to transact using Bitcoin and Monero, taking a commission on each trade.

“Today’s sentence puts traffickers on notice: you cannot hide in the shadows of the Internet,” asserted Jay Clayton. “Any technology doesn’t provide immunity to narcotics distribution business.”

Lin’s fortune crumbled after the FBI linked his crypto transactions to accounts bearing his name in crypto exchanges. In March 2024, he reportedly looted more than $1 million from his users before attempting to blackmail them.

In May 2024, the FBI apprehended Lin at New York’s JFK Airport as their investigation connected him to the market, aided by blockchain tracing.

Incognito Market
Source: US Attorney SDNY