Man is bailed in cryptocurrency & darknet probe
Accused appears in court after €6.5m, luxury watches and cars seized in raid
A MAN charged following a cyber crime investigation into darknet markets and money laundering involving cryptocurrencies has been released on bail.
Detectives with the Garda National Cyber Crime Bureau (GNCCB) seized around €6.5million worth of cryptocurrency and arrested three people during a raid at a property in north Co Dublin.
They also seized luxury brand watches worth in excess of €120,00 and two highpowered cars valued in the region of €220,000.
Kevin Daniel Andrei, 23, appeared at Dublin District Court yesterday charged with three counts of possessing close to €600,000 in crime proceeds under section seven of the Criminal Justice (Money Laundering & Terrorist Financing).
He is accused of “concealing and disguising the true nature and source of 65 Wirex transactions” totalling €22,049 between March 3, 2021, and September 5, 2022, at various locations within the state.
According to another charge, between February 26, 2021, and February 26, 2024, he engaged in “concealing and disguising the true nature and source of 1,822 Revolut transactions that is the proceeds of criminal conduct,” valued at €227,429.
The third one claims he disguised the true nature and source of 422 separate Binance transactions worth €341,959 between March 21, 2021, and December 20, 2023, at various places in Ireland.
Dressed in a grey hoody, dark trousers and runners, the accused, of Drynam Avenue, Swords, sat silently during the hearing and has yet to indicate a plea.
GNCCB Detective Ciaran Byrne told Judge Michael Connellan the accused was charged at Kevin Street Garda station yesterday and “made no reply to the charges”. Although the detective initially objected to bail, he added he had discussed significant conditions with defence solicitor Kate Mcghee.
The solicitor confirmed her client agreed to the terms proposed by the GNCCB detective. Judge Connellan imposed them and granted bail.
He told the accused, who has surrendered his passport, to sign on three days a week at his local garda station, not to apply for a replacement passport or new travel documents, reside at his current address, provide a mobile phone number to gardai and be contactable at all times.
Bail was set in his bond of €100, and Andrei was ordered to appear again on October 3 for directions from the Director of Public Prosecutions to be outlined.
A man and woman also arrested for similar offences were released.