Irish Authorities Recover Over $39 Million in Bitcoin from Lost Wallet

A significant movement in Bitcoin has been observed as 500 BTC worth approximately $39.56 million was sent to Coinbase Prime from a group of wallets linked to convicted Irish drug dealer Clifton Collins.

The transfer is part of an ongoing effort by Irish authorities, with support from Europol's European Cybercrime Centre, to recover over 6,000 BTC that Collins had acquired in 2011 and 2012 using proceeds from cannabis sales.

Collins' private keys were reportedly lost when the fishing rod case containing them was taken to a waste facility after his arrest in 2017. However, Irish authorities have been able to recover access to several wallets in the group, with over 1,500 BTC already recovered by July this year.