Massive Bitcoin Scam reaps Millions off Irish Citizen with High Net Worth, Local police jumps in

By: Mark Jessy

Massive Bitcoin Scam reaps Millions off Irish Citizen with High Net Worth, Local police jumps in

April 2, 2021 5:34 PM

The Irish police have been awakened by the rising numbers of bitcoin-related scam which targets rich people in the country.


Bitcoin theft and scam-related activities have been on the rise globally as the flagship crypto-asset went on a parabolic rise from late 2020. The Irish have been alerted as the numbers of bitcoin-related scams are on the rise in the country.


A few high valued transactions have already been noticed by the Irish authorities which they pointed out as worrisome with high net worth individuals targeted according to volume of the transactions made in those ill activities.


Irish Authorities Already Identifying Suspects 


The Irish Times, reported that the Ireland police (Gardaí) are currently investigating a major crypto scam. It is believed that some of the suspected criminals could be living in the country after a local bank raised concerns regarding a suspicious transaction of about $586,500 from a dormant account.


However, the Gardaí made some investigations which led them to the older customer who thought he was investing in a legit crypto business opening. The Irish police now advised not to send the money which he accepted.


The move to block the customer in making the transaction seems late, as it was reported that other similar transactions occurred before they could react to block the $586k transfer to the scammers wallet. The victim was to convert fiat into crypto and then deposit into the wallet allegedly owned by the criminals.


At the time of writing no arrest have been made, Gardaí ransacked on a property allegedly tied to some suspects located in south Dublin. According to the report authorities seized computers, cash, phones, and jewelry they found.  An investigation on how the criminals, many of whom live abroad but base in Dublin approached their victims and win their trust is currently ongoing as well.


An official of the National Economic Crime Bureau Pat Lordan issued a warning:

"It's a simple advice, stop responding to unasked strategies, be skeptical of wild claims and never allow any one have access to your computer remotely."