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Irish drug dealer's 500 BTC transfer this morning was due to "seizure and confiscation by Irish authorities." He once held 6,000 BTC.
Deep Tide TechFlow News, March 25 — According to Cointelegraph, the Irish Criminal Assets Bureau (CAB), with technical support from Europol’s European Cybercrime Centre, successfully cracked a Bitcoin wallet previously believed to have lost its private key forever, seizing 500 BTC valued at over $35 million.
The wallet belonged to convicted drug dealer Clifton Collins. Reports state that between 2011 and 2012, Collins purchased approximately 6,000 BTC with drug proceeds, storing them across 12 wallets. He printed the private keys on an A4 sheet of paper and hid it inside an aluminum end cap of a fishing rod case at his rented residence. After Collins was arrested and imprisoned in 2017, his landlord discarded the paper during cleanup, causing the private key to become unknown.
On-chain intelligence platform Arkham data shows that the 500 BTC transferred this time have been moved to Coinbase Prime, with the address labeled “Clifton Collins: Lost Keys.” Arkham tracking indicates Collins owns 14 addresses holding about 5,500 BTC, currently worth over $391 million. The remaining wallets are still awaiting decryption.
Previously, it was reported that the 500 BTC belonging to Irish drug dealer Clifton Collins, dormant for nearly 10 years, appeared in on-chain transfers.