Three arrests as cryptocurrency worth €6.5m seized by gardaí

A long-running investigation into what garda call 'darknet markets' and money laundering using cryptocurrency resulted in three arrests after an operation in the capital in recent days

Detectives attached to the Garda National Cyber Crime Breau and armed officers searched a residence in north Dublin on Monday morning.

Cryptocurrency, including Bitcoin and Monero, worth approximately €6.5m has been seized by gardaí in Dublin.

A long-running investigation into what gardaí call 'darknet markets' and money laundering using cryptocurrency resulted in three arrests after an operation in the capital in recent days.

Detectives attached to the Garda National Cyber Crime Breau (GNCCB) and armed officers searched a residence in north Dublin on Monday morning.

During the course of this search, GNCCB investigators seized substantial assets, most notably the cryptocurrency with a current market value of approximately €6.5m. They also seized luxury brand watches worth in excess of €120,000 and two high-powered vehicles valued in the region of €220,000.

Two men (aged 23 and 49) were arrested on suspicion of alleged offences of Enhancing the Capability of a Criminal Organisation to Commit a Serious Offence contrary to Section 72 of the Criminal Justice Act 2006 and were detained under the provisions of Section 50 of the Criminal Justice Act 2007 at Garda Stations in South Dublin.

A 32-year-old woman was also arrested on suspicion of alleged offences contrary to the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 and detained under the provisions of Section 4 of the Criminal Justice Act 1984, as amended.

The 49-year-old man and 32-year-old woman have since been released from custody pending the submission of a file to the Director of Public Prosecutions.

The 23-year-old man remains in garda custody.

Superintendent Michael Mullen of the GNCCB explained: "The arrests of the three individuals and the assets seized are the result of a highly complex investigation into criminal Darknet Marketplace activities by specialist investigators attached to the Garda National Cyber Crime Bureau. 

These actions demonstrate Ireland's continued determination that this jurisdiction is not a safe place for persons involved in any form of criminality and the determination of An Garda Síochána to prevent those involved in criminality of benefitting financially from same, irrespective of what form such profits takes. 

He added: "I would also like to reassure the public that this Darknet Market, where illegal goods and services were for sale, is no longer in operation.”