Ireland grows its crypto stash with seized dark web bitcoin

Irish police have seized cryptocurrency worth €6.5 million ($7.1 million) from a trio in Dublin who have been arrested on suspicion of aiding an illegal dark web and money laundering operation.

The Garda National Cyber Crime Bureau announced today that it seized crypto, including bitcoin and Monero, alongside a €120,000 ($131,000) luxury watch and two vehicles worth €220,000 ($240,000).

Police swooped on an address in Dublin on Monday, arresting two men, aged 23 and 49, and one woman, aged 32.

The men are accused of aiding a criminal organisation to commit a serious offence while the woman is accused of offenses under the Money Laundering and Terrorist Financing Act 2021.

Detective Superintendent Michael Mullen said the arrests “are the result of a highly complex investigation into criminal darknet marketplace activities by specialist investigators.”

Read more: UK hacker jailed over $900K Coinbase login scam

According to the BBC, the older of the two men and the woman have been released from custody as documents are being prepared for Irelands criminal prosecution agency. The younger man, however, remains in custody to be interviewed.

The seizure will add to the stash of crypto obtained by Irish authorities by confiscating criminal proceeds. The UK similarly controls 61,245 bitcoins worth $3.5 billionseized from illegal operations.

The crypto may likely be lawfully disbursed, auctioned, liquidated, or transferred depending on the cases outcome.