- Irish police, with Europol’s help, have seized 500 Bitcoin (worth over $35 million) from a “lost” wallet owned by a convicted drug dealer.
- The funds were part of a stash of 6,000 Bitcoin purchased over a decade ago, whose paper access codes were long thought to be lost forever.
- This breakthrough demonstrates law enforcement’s increasing ability to bypass cryptographic security and recover “inaccessible” criminal assets.
On March 24, 2026, the Irish Criminal Assets Bureau (CAB) announced a landmark seizure of over $35 million in Bitcoin, successfully accessing a supposedly impregnable digital wallet once owned by convicted drug dealer Clifton Collins. This technical feat, executed with critical support from Europol’s European Cybercrime Centre, marks a significant breakthrough in tracking and recovering illicit crypto assets.
Consequently, the bureau said it “gained access to and seized a cryptocurrency wallet” containing 500 BTC. The wallet was one of twelve containing a total of 6,000 Bitcoin that Collins acquired using drug proceeds in 2011 and 2012.
However, the private keys to these wallets, printed on a single sheet of paper, were lost years ago. According to reports, Collins had hidden the document inside a fishing rod case, which was later allegedly stolen or discarded.
Meanwhile, blockchain intelligence tracked the movement of the funds. A wallet labeled “Clifton Collins: Lost Keys” by Arkham transferred the 500 Bitcoin to Coinbase Prime on Tuesday. Arkham lists Collins as still controlling addresses with total holdings valued at over $391 million.
This case highlights a rare success in cracking Bitcoin’s cryptography. Typically, losing a private key renders funds permanently inaccessible, making this seizure a notable exception for law enforcement.
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