- 500 BTC moved on-chain after nearly 10 years of dormancy
- Funds linked to Irish drug dealer Clifton Collins
- Originally part of a 6,000 BTC stash acquired in 2011–2012
- Private keys were believed lost in a landfill after 2017 arrest
- Ireland’s Criminal Assets Bureau (CAB) confirmed seizure of the 500 BTC
- Assistance provided by Europol’s cybercrime center
A portion of Bitcoin previously believed to be permanently lost has resurfaced after nearly a decade. On March 24, 2026, at 12:51:17 UTC, 500 BTC linked to Irish drug dealer Clifton Collins was moved on-chain, marking the first activity from the wallet in almost ten years. The movement suggests that at least part of the cryptocurrency stash, once presumed inaccessible has been recovered or accessed. The transferred Bitcoin, valued at approximately $35.44 million, was subsequently moved into Coinbase.
6,000 BTC From Illegal Proceeds: Clifton Collins had accumulated a total of 6,000 BTC between 2011 and 2012 using proceeds from cannabis cultivation and distribution. He divided the holdings across 12 separate wallets. To secure access, Collins stored the private keys on paper hidden inside a fishing rod case at a rental property located in Galway, Ireland.
Keys Lost After 2017 Arrest
Following Collins’ arrest in 2017, the rental property was cleared out. His personal belongings, including the fishing rod case containing the private keys, were reportedly sent to a landfill. As a result, both authorities and Collins believed the Bitcoin holdings were irretrievably lost. An Irish court subsequently ruled that the funds should be confiscated as proceeds of crime, but the absence of the keys made recovery impossible at the time.
Authorities Confirm Seizure of 500 BTC: The Garda’s Criminal Assets Bureau (CAB) announced that it has now successfully seized and gained access to a wallet containing 500 BTC tied to Collins. The bureau confirmed that the recovered Bitcoin has been identified as proceeds of criminal activity. Europol’s cybercrime center assisted Irish authorities in the operation.
Remaining Bitcoin Holdings
Out of the original 6,000 BTC, Collins is believed to still hold approximately 5,500 BTC, with an estimated value of around $389 million. The recent movement raises questions about the status of the remaining funds, which were also thought to be permanently inaccessible due to the loss of private keys. The unexpected movement and seizure of 500 BTC highlight the evolving capabilities of law enforcement in tracking and recovering digital assets. Despite earlier assumptions that the funds were lost forever, a portion of the Bitcoin has now been brought back under control.
