Dark web "Pharaoh" Lin Ruixiang pleads guilty for a reduced sentence, these potential accomplices may be targeted by the U.S.

The main suspect Lin Rui-Siang, who operated the dark web drug trafficking platform "Incognito Market," pleaded guilty in December 2024 in the U.S. District Court for the Southern District of New York, admitting to charges of conspiracy to distribute narcotics, Money Laundering, and selling counterfeit drugs, and agreed to forfeit over $100 million worth of encryption assets. According to U.S. documents, he is cooperating with prosecutors to provide more information about accomplices in hopes of receiving a reduced sentence.

The US postponed the verdict to exchange information for a reduced sentence.

According to court records, Lin Ruixiang has signed a "plea agreement," promising to assist the U.S. Department of Justice in investigating other individuals involved in the case. As a result, the U.S. District Court for the Southern District of New York has unusually postponed the originally scheduled sentencing date, reportedly to give prosecutors more time to investigate the "highly confidential information" provided by Lin Ruixiang.

The investigation and examination suggest that the cooperation may involve platform operators, technicians, Money Laundering intermediaries, and anonymous developers responsible for developing anti-tracking tools, among others. The US plans to launch transnational actions against these potential accomplices.

( National Taiwan University high achiever Lin Ruixiang involved in drug trafficking on the dark web, earning 160 million TWD monthly, mastermind of the 'hidden market' bites accomplices for reduced sentence in the US )

Potential accomplice structure emerges

The comprehensive indictment and judgment documents suggest that the prosecution may have grasped the following accomplice structure:

Technical backend personnel: Assist in deploying and maintaining the "Incognito Market" server and cold wallet system;

Cybersecurity tool developer: Co-developed "Antinalysis" with Lin to help users check whether transactions can be tracked;

Money Laundering and Withdrawal Collaborators: Assisting in converting encrypted assets into cash through OTC intermediaries or accounts;

Long-term supply sellers: selling drugs and counterfeit drugs on the platform and sharing profits with the platform;

Community Operations and Reviewers: Assist in handling internal disputes and verification processes.

Some people may still be active in other anonymous markets or associated with blockchain privacy tool development teams.

The U.S. Department of Justice aims to trace the source and cut off the roots.

Because the case involved highly anonymized tools and huge financial flows, the DOJ deemed it necessary to "not only remove the platform, but also deconstruct the entire network." Prosecutors pointed out that Lin's cooperation is regarded as a "key breakthrough point", and a number of cross-border prosecutions and asset freezes may be triggered in the future.

Currently, U.S. law enforcement agencies have issued recovery orders for multiple wallets and accounts, and simultaneously published notifications to the public under the provisions of the Civil Asset Forfeiture Reform Act, Section 853, allowing any interested party to file objections within the specified period.

This article discusses how the "Pharaoh" of the dark web, Lin Ruixiang, pleaded guilty for a reduced sentence, and these potential accomplices may be targeted by the U.S. authorities. It first appeared on Chain News ABMedia.