On Sunday evening a fishing trawler coming from Castletown bare and destined for Devon ran aground on a sandbank in close to Blackwater in County Wexford.
A multi-agency search operation was launched on Sunday night.
Members of the RNLI and Coast Guard Rescue Helicopter 117 attended the scene and brought two male passengers to shore. Officials were then informed that the vessel was being tracked by the Irish Navy as it was believed to be involved in a suspected cocaine smuggling operation.
The men were reportedly arrested after coming ashore and are being detained at a Wexford Garda Station.A visible military presence was spotted off the Wexford coast but Irish Naval Service and A Garda spokesperson said they could not comment on a live operation.