A woman was arrested in south Dublin this morning after a person was scammed out of almost €1 million during a fraudulent crypto "investment".
The woman, who is in her 60s, is currently being held at Irishtown Garda Station.
She is suspected of "acting as an investment intermediary" without authorisation from the Central Bank.
During the scam, money that was "invested" was moved to Virtual Asset Service Providers and changed into cryptocurrency.
It was then moved through the Blockchain, which is technology that allows people to confirm transactions without a need for a central clearing authority.
Other amounts of money were transferred to international banks.
Investigating officers of the Garda National Economic Crime Bureau were able to track down a victim of the scam with help from banks.
This person transferred almost €1 million, believing it was an ‘investment’.
A garda spokesman said that following co-operation with the relevant financial institutions, almost 50% of this €1million sum was frozen and returned to the victim.
The spokesman said that investigations are ongoing.
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