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Crypto Scam : In Ireland, an elderly woman was arrested in connection with a €1 million scam

A woman in her 60s was recently detained in Dublin, Ireland, for her suspected involvement in a crypto scam worth €1 million ($1.1 million).

According to a report by DublinLive, the woman was detained on suspicion of defrauding a crypto assets investor out of €1 million. While the inquiry is ongoing, the anonymous suspect is reportedly being held in detention at Irishtown Garda Station.

According to the report, the woman allegedly acted as an investment broker without license. Then, duping the victim into sending her one million euros in the hopes of investing it in crypto. Authorities claim that some of the stolen monies were used to buy crypto assets. Of course, while the rest was moved to the suspect’s offshore bank accounts.

The Garda National Economic Crime Bureau (GNECB), a

“specialized division of Ireland’s national police agency, the Garda Sochána, that investigates economic crimes,”. Then, collaborated with many foreign banks and was able to return half of the stolen monies to the victim.

“Last April, the Irish police began investigating an uptick in cases related to Bitcoin that”

” reportedly affected some of the country’s high-net-worth individuals,”. Thereby, prompting the Banking and Payments Federation Ireland to issue a fraud warning for crypto buyers in May 2021.

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