Ireland's CAB Recovers $38M in Bitcoin Tied to Convicted Dealer's Lost Fishing Rod
Ireland's Criminal Assets Bureau (CAB) has made another significant move in its decade-long pursuit of cryptocurrency seized from convicted cannabis dealer Clifton Collins. On August 28, 2026, a stash of 500 BTC, valued at $38 million, was transferred from a legacy wallet created on January 23, 2016, to a newer P2SH address.
The move is the first time these coins have been touched in over ten years, and it's a far cry from their original value of just $191,217 when Collins forfeited them to authorities. The transfer comes as part of CAB's efforts to track down and recover the remaining 6,000 BTC tied to Collins' wallet.
The mystery surrounding the recovery of Collins' funds has sparked debate among cryptocurrency enthusiasts, with some speculating that CAB may have found the fishing rod where Collins allegedly hid his seed phrase. However, neither Irish officials nor Europol's cybercrime unit has confirmed this.