24-Year-Old Taiwanese IT Graduate Made $1 Billion Running Dark Web Drug Network During Diplomatic Military Service, Faces Life Sentence in US Court

Taiwanese IT Graduate Behind $100 Million Dark Web Drug Network Faces Asset Seizure in Cross-Border Case

A high-profile cybercrime case involving a young Taiwanese man who built a multi-million dollar dark web drug empire continues to unfold as prosecutors in Taipei seize more than NT200 million (US$6.67 million) worth of his assets.

This follows his guilty plea in a U.S. federal court to multiple serious charges tied to his operations on the dark web.

FBI indictment reveals how agents infiltrated the dark web to gather evidence against Lin Ruei-shiang’s $100M drug network.

How A 24-Year-Old Tech Expert Built A Global Narcotics Empire

Rui-Siang Lin, a 24-year-old former National Taiwan University student majoring in information management, was arrested in May last year at John F. Kennedy International Airport in New York while transiting from Saint Lucia to Singapore.

Rui-Siang Lin, a Taiwanese IT prodigy and former diplomatic service conscript, secretly ran a global dark web drug empire while teaching cybercrime prevention to police abroad.

At the time, he was serving under Taiwan’s diplomatic substitute military service in the Caribbean nation, even delivering cybercrime training to local police — a detail he proudly shared on his LinkedIn page.

U.S. authorities later revealed that Lin operated “Incognito Market”, a dark web platform launched in October 2020 that enabled anonymous sales of illegal narcotics worldwide.

Incognito Market was a dark web platform that allowed users to buy and sell illegal drugs anonymously using cryptocurrency.

The site operated from 2020 to 2023 and processed over US$100 million in drug transactions before it was shut down.

The site facilitated the sale of over US$100 million worth of drugs, including cocaine, methamphetamine, heroin, and counterfeit prescription pills, before it was shut down in March 2023.

Vendors using the platform paid Lin a 5% commission on each transaction, which he allegedly laundered through a network of cryptocurrency accounts and wallets.

At just 19, Lin had already designed and deployed a commercially polished website that attracted over 200,000 users and supported thousands of drug dealers globally.

Over three years, he generated more than US$1 billion in revenue.

Massive Digital Haul Includes Bitcoin, NFTs, And Cold Wallets

According to U.S. court documents, Lin agreed to forfeit digital assets valued at over US$105 million. These were identified across several platforms and storage methods, including cold wallets and crypto exchanges. The seized assets include:

Cryptocurrencies:

• 19.3 Bitcoin (BTC)
• 100 Ethereum (ETH)
• Over 1,000,000 Tether (USDT)
• 1,926 Solana (SOL)
• Multiple holdings of Monero (XMR) and Aave-related tokens

These digital funds were traced to accounts on Kraken, Binance (under user IDs 37817359, 281631139, and 832860427), and were also stored in cold wallets, including a Kingston USB hardware wallet and servers belonging to Limestone in the United States.

Non-Fungible Tokens (NFTs):

• Bored Ape Yacht Club #3405
• Bored Ape Kennel Club #7140
• 16 NFTs from the My Pet Hooligan series

All NFTs were secured in wallets protected by seed phrases and have now been seized by U.S. authorities.

Taipei Investigators Move In On Local Properties And Accounts

Taiwan’s Taipei District Prosecutors Office has launched its own investigation into Lin’s domestic assets.

Authorities have already frozen real estate, luxury properties in Taipei’s Tianmu district, bank deposits, and virtual currencies valued at over NT$200 million.

One of the luxury apartments Lin purchased for NT$60 million is located in this building in Tianmu, Taipei.

This effort is being coordinated with the United States through ongoing judicial cooperation.

Taiwanese law enforcement had already acted in late 2023 to freeze Lin’s domestic holdings, and further discussions are underway to determine how both sides might collaborate to recover illicit gains and compensate any victims, if applicable.

Father A Renowned Tech Entrepreneur, Son Took A Starkly Different Path

Investigators uncovered a personal contrast within Lin’s family.

His father, a well-known aerospace engineer and software entrepreneur, was once honoured as a distinguished NTU alumnus and known for supporting social causes.

The elder Lin’s software developments included tourism and campus apps widely used in Taiwan.

The father reportedly believed that “building happiness on others’ pain” was not the right path — a statement that sharply contrasts with his son's descent into digital crime.

U.S. Court Postpones Sentencing After Cooperation

After pleading guilty in December 2024 to narcotics conspiracy, money laundering, and conspiracy to sell misbranded medication, Lin faces a minimum of 10 years and potentially life imprisonment.

His sentence was originally scheduled for March but was delayed until September after he provided detailed information on digital fund movements and named four accomplices.

This rare postponement is seen as a sign of substantial cooperation with prosecutors, though officials in Taipei declined to comment on his statements.

If no third party challenges ownership within 60 days, all forfeited assets will be transferred to the U.S. Treasury’s Asset Forfeiture Fund, potentially to be used for law enforcement purposes or victim restitution.

This case is now considered one of the most significant joint efforts between Taiwanese and American authorities in tackling cross-border cybercrime involving cryptocurrency.