Irish Police Crack First of 12 Bitcoin Wallets in $418M Drug Seizure
Ireland’s Criminal Assets Bureau (CAB) has accessed a Bitcoin wallet containing about 500 BTC, worth roughly $34 million, as part of assets seized from convicted drug dealer Clifton Collins in 2019. The operation, aided by Europol's cybercrime experts, marks the first breach of 12 wallets originally taken from Collins, whose total seized cryptocurrency is now valued at $418 million. Collins, imprisoned for cannabis cultivation and distribution, had invested drug proceeds in Bitcoin starting in 2011, when prices ranged from $0.30 to $29 per BTC. He stored his private keys in a document hidden in a fishing rod case, which was reportedly lost following his arrest. In 2023, CAB reported recovering $1.3 million from Collins, including 89 BTC and other seized assets such as vehicles and equipment.
