Irish police are extremely vigilant as the number of bitcoin fraud cases increases, targeting prominent individuals in the country. The situation has become alarming as the authorities have already detected suspicious transactions involving large amounts of money.
Authorities have already searched a home belonging to one of the suspects.
As reported by the Irish Times, the Gardaí (Irish police) are investigating what is believed to be a major cryptocurrency scam, the perpetrators of which may be in the country. A local bank has already raised concerns about a suspicious transaction of 500 000 euros ($586 500) from an inactive account.
After the Gardaí interviewed an elderly customer who wanted to invest so much money in what he thought was a legitimate crypto business opportunity, he took police advice not to send cash.
But according to media reports, there appear to have been other similar transactions before they took action to block the flow of €500,000 into the criminal’s wallet. In fact, the victim wanted to exchange the money for cryptocurrencies and then put it into a bitcoin (BTC) wallet that allegedly belonged to the scammers.
Although no arrests have been made at the time of going to press, Irish police have already raided a train station in south Dublin, which is believed to have links to some of the suspects.
According to the report, cell phones, computers, cash, branded bags and jewelry were seized and forfeited by authorities.
In addition, the investigation focused on how the perpetrators – some of whom are believed to be foreign nationals living in Dublin – approached the victims and gained their trust.
Overseas authorities assist Irish police in investigations
Police are concerned about where some of the money from suspected bitcoin scammers is going. It is trying to determine how much money has been converted into cash and whether it is in foreign bank accounts. Yet the Gardai estimate that the funds could run into the millions.
Pat Lordan, an officer with the National Police Bureau of Economic Crimes, issued the following warning:
One case involved a retired specialist from Central Asia who lost his entire pension and savings, amounting to almost 250,000 euros. Our advice is simple: Do not accept unsolicited approaches, be wary of false claims, and never allow anyone to remotely access your computer.
What do you think about this big bitcoin scam taking place in Ireland? Let us know your comments in the section below.
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