Irish authorities have successfully recovered 500 Bitcoin, valued at approximately $35 million, from a wallet that had been dormant for nearly ten years. The funds belonged to Clifton Collins, a convicted cannabis grower, whose 6,000 BTC fortune was thought to be lost since 2017. The operation was conducted by Ireland's Criminal Assets Bureau (CAB) in collaboration with Europol, which provided technical expertise to crack the wallet and transfer the Bitcoin to Coinbase.
Collins, who purchased most of his Bitcoin in 2011 and 2012, had distributed his holdings across 12 wallets, each containing 500 BTC. The private keys were hidden in a fishing rod case, which was lost after his arrest in 2017. The Irish High Court ordered the Bitcoin confiscated in 2020, but the keys were believed to be irretrievable. Europol has not disclosed the exact method used to access the wallet, but it involved complex decryption techniques. Authorities are hopeful that the same method can be applied to recover the remaining 5,500 BTC, potentially making it the largest asset seizure in CAB's history.
Irish Police Recover 500 BTC Worth $35M After Nearly a Decade of Dormancy
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