A member with a lower rank within the criminal organization led by Gerry ‘The Monk’ Hutch was observed depositing funds into a cryptocurrency account on behalf of the Hutch Organized Crime Group (OCG).
According to the Irish Independent, the individual involved in minor criminal activities was recorded on CCTV depositing a certain amount of money into a cryptocurrency automated teller machine (ATM) on behalf of the inner city crime gang based in North Dublin in recent weeks.
Moreover, the criminal has been spotted in the company of the 60-year-old crime leader since Gerry was acquitted 13 days ago for the murder of David Byrne, a Kinahan cartel lieutenant, at the Regency Hotel in 2016.
As of the beginning of this year, there were reportedly 32 cryptocurrency ATMs in Ireland. Nevertheless, more than a dozen of these machines are now believed to be out of service.
A significant number of the functioning ATMs are allegedly being used by the Hutch OCG and the Kinahan cartel, and other criminal groups in Ireland that attempt to launder money.
As per a security source, individuals can deposit cash into a cryptocurrency ATM account and subsequently withdraw it as cryptocurrency from any location without leaving behind any traceable evidence.
Reportedly, criminal associates with close ties to the Hutch gang have been observed on multiple occasions in Turkey, accessing cryptocurrency deposited in cash to accounts in Ireland. According to a source, cryptocurrency has become the primary currency for criminal organizations based in Ireland.
The discovery of the low-level criminal linked to the Hutch gang depositing cash into a cryptocurrency ATM is seen as a sign of the gang’s significant presence in the criminal underworld, as per the same source.