As per reports, Gardai (Ireland’s Police) is investigating a case that they are considering a major crypto scam, and its criminals can probably be residing in the country. A local bank has already managed to raise concern regarding the suspicious transaction of 500000 euros worth $586500 from a dormant account.
After conducting several inquiries by Gardai on an older customer, who opted for investing such an amount of money, which he believed to be a probable opportunity for business, he accepted the advice of police not to send the fiat money.
However, as per the media outlet, it seems another similar transaction took place before they opted to block 500000 euros move to the wallet of the criminal. The victim wanted to exchange money into cryptocurrencies and deposit it to a bitcoin wallet, which had been allegedly belonging to the fraudsters.
Although there are still no arrests, the Irish police have already searched on a property in the south of Dublin as it was allegedly tied to some of the suspects.
The report is saying that mobile phones, designer handbags, cash, computers, and jewelry were found, which the authority seized. Moreover, these investigations are much focused on criminals who are based in Dublin and foreign nationals. The criminals are approaching the victims and gaining more confidence.
Police are now worried about the destination of some of the funds, which are getting received through the ostensible bitcoin scammers. They are trying to determine how much money actually got exchanged into fiat. Gardai believes that the funds are near about several million in value.
An official of the Gardai National Economic Crime Bureau, Pat Lordan, opted for the following warning,
“One case involved a retired professional from the midlands who lost his entire pension and savings of nearly €250,000. Our advice is simple: don’t respond to unsolicited approaches, be wary of wild claims, and never let anyone have remote access to your computer.”