According to a recent disclosure by the US Department of Justice, the FBI has successfully dismantled the dark web drug marketplace, Incognito Market. The market had accumulated a total trading volume of $100 million, with $80 million being traded in cryptocurrencies.
The market facilitated the sale of various illegal drugs, accepting Bitcoin and the privacy-focused cryptocurrency Monero (XMR) for drug transactions. They charged a 5% fee on purchases. The main administrator of the market, Rui-Siang Lin, has been arrested. The FBI investigation has charged Lin with ongoing criminal activity, drug conspiracy, money laundering, and concealment of funds.
Tags:
FBI
Incognito Market
XMR
Dark web
Bitcoin
Source link:
https://www.theblock.co/post/295669/feds-nabs-dark-web-drug-marketplace-transa…
Note: All articles from Bitpush represent the author’s viewpoint and do not constitute investment advice.
Original article link:
https://www.bitpush.news/articles/6769729
Related news:
【Bitpush Daily Market Dynamics】Market Digests ETF Boost, $3,800 May Be Key Level for ETH
How to Participate in Restaking Airdrops: On-Chain Complexity vs. One-Click New Offerings
Exclusive Interview with ether.fi Founder: The Re-staking Market Has Gone “Crazy,” Watch Out for Potential Systemic Risks
The Big Leak – BTC’s Path to One Million Dollars
Wu Shuo Podcast: How Much Longer Will the Bull Market Last? The Impact of the Fed, Nasdaq, and ETFs