The Irish police are on high alert as cases of Bitcoin-related fraud against wealthy people rise in the country. The situation has become worrying as authorities have already noticed suspicious high value transactions.
Authorities have already searched a property tied to one of the suspects
According to The Irish Times, Gardaí (Ireland’s Police) are investigating what they believe is a major crypto scam whose criminals may be living in the country. A local bank has already raised concerns about a suspicious transaction of € 500,000 from a dormant account.
After research by Gardaí into the elderly customer who wanted to invest such an amount of money in what he believed to be a legitimate crypto business opportunity, he accepted police advice not to send the fiat money.
However, according to media outlets, other similar transactions appear to have taken place before blocking the move of € 500,000 into the criminals’ wallet. In fact, the victim wanted to convert the money into crypto and then deposit it into a bitcoin wallet (BTC) that supposedly belongs to the scammers.
Although no arrests were made at press time, Irish police were already raiding a property in south Dublin that was allegedly tied to a number of suspects.
According to the report, cell phones, computers, cash, designer handbags and jewelry were found and confiscated by the authorities.
Additionally, the investigation is focused on how the criminals – some of whom are alleged to be foreigners based in Dublin – approached the victims and gained their trust.
The overseas authorities are assisting the Irish police with the investigation
Police are concerned about the target of some of the funds the alleged Bitcoin scammers have received as they attempt to determine how much money has been converted into fiat and whether it is held in overseas bank accounts. Still, Gardaí believes the funds may have reached “several million”.
Pat Lordan, an official with the Gardaí National Economic Crime Bureau, issued the following warning:
One case concerned a retired specialist from the Mittelland who lost his entire pension and savings of almost 250,000 euros. Our advice is simple: don’t react to unwanted approaches, beware of wild claims, and never let anyone access your computer remotely.
What do you think of this massive bitcoin scam in Ireland? Let us know in the comments below.
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