Gardaí Seize €6.5 Million in Cryptocurrency in Major Darknet Investigation

• Bitcoin and Monero worth €6.5 million, luxury watches, and high-powered vehicles were seized by officers in a huge operation.
• The raid was focused on the sale of illegal goods on darknet markets and money laundering as part of an inquiry by GNCCB.
• Two women were detained along with a 23-year-old man who is still being held by Garda. The other two people have been freed pending further enquiries.

Last Monday, two men and a woman were taken into custody by the gardaí in northern Co Dublin after they seized cryptocurrency valued at €6.5m together with luxury wristwatches and vehicles with high horsepower during a raid in a large operation. 

This raid was conducted as part of an ongoing investigation by GNCCB into the sale of illegal goods through darknet markets and also money laundering using cryptocurrencies. Among those who participated in the search were Garda Armed Support Unit members.

Arrests and Seizures

Bitcoin and Monero, which have a combined value of around €6.5m in today’s market, were among the items confiscated by gardai when they searched a residence. They also took possession of luxury brand watches valued at over €120k along with two vehicles worth approximately €220k. A 23-year-old man and a 49-year-old man were both arrested along with a 32-year-old woman during this operation.

Legal Proceedings

The younger male is still being detained under arrest while awaiting further questioning .His older counterpart together with the lady has been let go pending referral files going to Director Public Prosecutions. According to reports from within law enforcement ranks familiarized with details surrounding what transpired yesterday evening at their headquarters here where these individuals are currently being held captive until such time that they can be transferred elsewhere. 

This has been a highly complex investigation, said Detective Superintendent Michael Mullen from Garda National CyberCrime Bureau who added: “Ireland will continue its efforts against criminals using digital currency.” He continued, saying: “These actions show once again that there is no hiding place for criminals and they will be pursued wherever necessary to ensure the safety of our communities.”

Continued Efforts Against Darknet Activities

The arrests were made as part of wider efforts by law enforcement agencies worldwide aimed at disrupting online criminal marketplaces. The dark web marketplace which was under investigation is understood to have since closed down.