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🔥Hot off the press!🔥 Rui-Siang Lin, a Taiwanese national, was arrested at JFK Airport on May 18 for running Incognito Market, a darknet drug bazaar. Operating under the pseudonym "Pharoah," Lin allegedly facilitated over $100 million in crypto transactions through the sale of illegal narcotics. 💊💉 Lin, who identifies as a crypto developer and Monero enthusiast, is facing a slew of charges, including money laundering, engaging in a continuing criminal enterprise, narcotics conspiracy, and conspiracy to sell misbranded and adulterated medication. 😱 According to the FBI, they tracked Lin down by tracing crypto transactions from the marketplace to an exchange account under his name. The exchange provided Lin's driver's license, email, and phone number. 🕵️‍♂️💻 Despite the allegations, Lin reportedly conducted a workshop on cybercrime and cryptocurrency for police officers at the Saint Lucia Police Academy in early April. If convicted, he could be looking at a life sentence.👮‍♂️🚓 This case serves as a stark reminder that the so-called "dark web" is not a sanctuary for illegal activities. As always, stay safe and smart in the crypto world, folks! 🌐💡🔒

🔥Hot off the press!🔥 Rui-Siang Lin, a Taiwanese national, was arrested at JFK Airport on May 18 for running Incognito Market, a darknet drug bazaar. Operating under the pseudonym "Pharoah," Lin allegedly facilitated over $100 million in crypto transactions through the sale of illegal narcotics. 💊💉

Lin, who identifies as a crypto developer and Monero enthusiast, is facing a slew of charges, including money laundering, engaging in a continuing criminal enterprise, narcotics conspiracy, and conspiracy to sell misbranded and adulterated medication. 😱

According to the FBI, they tracked Lin down by tracing crypto transactions from the marketplace to an exchange account under his name. The exchange provided Lin's driver's license, email, and phone number. 🕵️‍♂️💻

Despite the allegations, Lin reportedly conducted a workshop on cybercrime and cryptocurrency for police officers at the Saint Lucia Police Academy in early April. If convicted, he could be looking at a life sentence.👮‍♂️🚓

This case serves as a stark reminder that the so-called "dark web" is not a sanctuary for illegal activities. As always, stay safe and smart in the crypto world, folks! 🌐💡🔒

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🚀BTC enthusiasts, get ready for some action! Today, we're seeing the expiry of around 20,000 Bitcoin options with a notional value of $1.35 billion. But don't fret, the market impact is expected to be minimal as this event is much smaller than previous weeks. 📉 However, keep your eyes peeled for June 28, when a whopping $6.7 billion in notional value derivatives are set to expire. Now that's a date to mark on your calendar! 📆 Today's BTC contracts have a put/call ratio of 0.49, meaning twice as many long (call) contracts are expiring as shorts (puts). The max pain point is at $68,500, a tad higher than current spot prices. This is where most losses could occur. 😬 But don't lose hope, bulls are still ruling the roost in BTC derivatives with almost $1 billion in open interest at the $100,000 strike price. The $75,000 and $80,000 strike prices are also seeing a lot of action with $723 million and $807 million respectively. 🐂 Despite the big macroeconomic data week in the U.S, the crypto market has underperformed, with mainstream coins and altcoins taking a hit. But remember, the crypto market is a rollercoaster ride, so buckle up! 🎢 In addition to Bitcoin, 200,000 Ethereum options expired today with a put/call of 0.36, a max pain point of $3,600, and a notional value of $710 million. The total market capitalization has remained steady at $2.57 trillion over the past 24 hours. However, markets have been on a retreat with a 7.5% decline over the past ten days. Bitcoin is currently hovering around $67,000 following a fall from around $69,500 earlier this week. Analysts are pointing at Bitcoin miner profit taking as a contributing factor to the declines. So, will today's Bitcoin options expiry send markets lower? Only time will tell. Stay tuned! 🕰️
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