tldr; Ireland’s Criminal Assets Bureau (CAB) is unable to access Bitcoin worth $378 million seized from drug dealer Clifton Collins in 2019. Originally valued at $56 million, the Bitcoin is held in 12 wallets. Collins, who invested in Bitcoin using drug profits in 2011, claims the seed phrases were lost in a fishing rod case. Despite a court ruling to hand over the Bitcoin, the CAB has been unable to access it for four years. The case highlights challenges in recovering digital assets linked to criminal activity.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
wolf_of_mainst99 on
Hahaha not your keys not your crypto
Bear-Bull-Pig on
Bold move using the I lost it in a fishing accident defense.
hiorea on
> His solution was to print them on to an A4 piece of paper and stash it in the aluminium cap of a fishing rod case kept at his rented home in Farnaught, Cornamona, County Galway. It seemed a good idea at the time.
> Then three things happened. Police arrested Collins after finding €2,000 worth of cannabis in his car. He was sentenced to five years in jail. The landlord of the Galway house had it cleared out, resulting in Collins’ possessions being taken to a dump.
> The codes are now missing, meaning the accounts cannot be accessed.
Tldr. Old story from 2020. But price of seized money just going up. It will be worth a trillion some day. But will stay as lost
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tldr; Ireland’s Criminal Assets Bureau (CAB) is unable to access Bitcoin worth $378 million seized from drug dealer Clifton Collins in 2019. Originally valued at $56 million, the Bitcoin is held in 12 wallets. Collins, who invested in Bitcoin using drug profits in 2011, claims the seed phrases were lost in a fishing rod case. Despite a court ruling to hand over the Bitcoin, the CAB has been unable to access it for four years. The case highlights challenges in recovering digital assets linked to criminal activity.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Hahaha not your keys not your crypto
Bold move using the I lost it in a fishing accident defense.
> His solution was to print them on to an A4 piece of paper and stash it in the aluminium cap of a fishing rod case kept at his rented home in Farnaught, Cornamona, County Galway. It seemed a good idea at the time.
> Then three things happened. Police arrested Collins after finding €2,000 worth of cannabis in his car. He was sentenced to five years in jail. The landlord of the Galway house had it cleared out, resulting in Collins’ possessions being taken to a dump.
> The codes are now missing, meaning the accounts cannot be accessed.
Tldr. Old story from 2020. But price of seized money just going up. It will be worth a trillion some day. But will stay as lost
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