Binance Joins Operation RapTor to Dismantle International Darknet Drug Network Linked to $100M in Illegal Sales
In a significant blow to online narcotics trafficking, Binance has played a key role in Operation RapTor, a global law enforcement effort targeting Incognito Market, one of the darknet’s most notorious drug marketplaces. The platform, now shut down, facilitated over $100 million in illicit drug sales, according to U.S. and Taiwanese authorities.
Binance Tracks Crypto Flow Behind Darknet Drug Network
The international investigation, dubbed Operation RapTor, aimed to take down both the operators and the financial infrastructure behind the Incognito Market. Despite the darknet site’s use of advanced encryption, anonymous cryptocurrency transactions, and a custom payment system, Binance’s Financial Intelligence Unit (FIU) was able to trace blockchain transactions back to individuals involved in the operation.
Binance helped law enforcement map illicit crypto flows, identify key wallets, and freeze more than $3.5 million in related digital assets. This financial disruption was crucial in crippling the marketplace’s ability to continue operations.
“Pharaoh” Arrested and Convicted
Authorities ultimately arrested a Taiwanese national known as Lin, alias “Pharaoh,” who ran Incognito Market and profited millions from drug sales. Lin has since pleaded guilty in a U.S. federal court to charges including drug trafficking, money laundering, and distribution of misbranded pharmaceuticals.
The operation revealed that Incognito Market was responsible for distributing over 1,000 types of illegal drugs, including heroin, cocaine, and methamphetamine, all transacted via cryptocurrency to mask user identities.
A Global Collaborative Victory
Binance’s involvement in Operation RapTor is part of its broader mission to support public-private partnerships in fighting crypto-enabled crime. Nils Andersen-Röed, Global Head of Binance’s FIU, stated:
“This case proves that even darknet markets with privacy-focused tools leave behind digital traces. Blockchain analysis is a powerful law enforcement tool, and cross-border collaboration is essential to stop criminal activity.”
Binance has supported several major investigations in the past, including with Europol in dismantling a darknet child exploitation network.
T3 FCU Also Reports Major Crypto Crime Disruption
In related news, the T3 Financial Crime Unit (T3 FCU)—a joint initiative between Tether, Tron, and TRM Labs—revealed that it has frozen over $100 million in illicit digital assets since its launch in August 2024. Working with global enforcement agencies, T3 FCU has monitored billions in USDT transactions to help fight fraud, terrorism financing, and money laundering in the crypto space.
