Ireland's CAB Seizes $38 Million in Bitcoin from Cannabis Dealer
Ireland's Criminal Assets Bureau (CAB) has successfully transferred 500 BTC worth $38 million from a decade-old wallet linked to cannabis dealer Clifton Collins. This recovery marks the fourth known seizure of assets from Collins' Bitcoin stash, totaling 2,000 BTC valued at $155 million.
The transfer of the Bitcoin was made to Coinbase Prime, highlighting ongoing efforts to seize illicit crypto assets. Despite Collins claiming that the seed phrase was hidden in a fishing rod that was never found, authorities have not confirmed how they accessed the wallet.
Collins' claims about the lost fishing rod remain unverified, adding an air of mystery to this latest recovery. The transfer has sparked renewed focus on law enforcement's ability to track and seize cryptocurrency assets tied to illicit activities.