Binance revealed that it played a major role in dismantling the concealment market, which is the famous Darknet drug market, which facilitated more than $ 100 million in illegal drug sales, according to American and Taiwanese law enforcement agencies.
The removal process was part of a wider international investigation, which was registered named Raptor, which targeted Darknet Platform operators and financial infrastructure.
I closed the hidden market
According to Bennes official press releaseThe steel market enabled the sale of more than 1,000 types of illegal drugs, including heroin, cocaine, and methamphetamine, and relied heavily on encrypted currencies to process transactions while blocking user identities.
Despite the use of the platform for encryption, privacy tools, and allocated internal payment system, researchers who work with the Binance Financial Intelligence Unit (FIU) have been able to track the Blockchain transactions for individuals connected to the market. Fiu’s Binance assisted the flow of illegal funds and identified many encryption portfolios related to platform operations.
The investigation eventually led to a Taiwanese citizen, which was identified by Lynn title known as the pseudonym “Pharaoh”, who supervised the operation and according to what was reported in millions in profits. Lin was arrested and later admitted that he was guilty of an American federal court for drug conspiracy, money laundering, and the distribution of wrong drugs.
Meanwhile, FIU of Binance froze more than $ 3.5 million of relevant encryption assets, which law enforcement said that law enforcement helped paralyze the financial operations of the market.
Binance has helped in similar investigations before, including efforts made with Europol to dismantle the child exploitation platform by tracking internal payment systems and identifying users. In an official statement, Nils Andersen Road, the international head of the Binance Financial Intelligence Unit, said,
“This issue is a strong reminder that Blockchain does not provide any safe haven for criminal activity. Even with advanced privacy tools, every encryption transaction leaves a digital trail, which is increasing in law enforcement investigations today. Border cooperation and between the public sectors are no longer optional-it is necessary.”
T3 FCU targets Crypto Crime
Besides Binance, another main player in the digital assets has a similar success for enforcement.
The T3 FCU Financial Crime Unit, a joint initiative from Tether, TRON and TRM LABS, announced in the march to update It has raised more than $ 100 million of illegal encryption assets since its launch in August 2024.
By working with global law enforcement, unity targeted crimes, including money laundering, fraud, and terrorist financing. T3 FCU has analyzed millions of transactions worldwide and monitored more than $ 3 billion in USDT activity to disrupt the financial crime in the encryption industry.
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