CAB, Europol secure another 500 BTC likely tied to Irish drug trafficking case
Ireland’s Criminal Assets Bureau, working with Europol’s European Cybercrime Centre, secured another 500 BTC valued at roughly $38.7 million from a dormant cryptocurrency wallet likely tied to a 2019 Irish drug trafficking case.
In a previous statement linked to an X post on Tuesday, the bureau said that Europol hosted operational meetings in The Hague and provided “highly complex technical expertise and decryption resources” that enabled investigators to gain access to the wallet. The agency added that the funds were identified as proceeds of crime and said it would provide no further comment.
Arkham Intelligence shows the seized bitcoin finally moved to Wintermute, a cryptocurrency trading firm. The onchain tracker issued an stating that 500 BTC had moved after 10 years of inactivity.
The seizure appears to represent the second time authorities have accessed one of 12 dormant wallets originally tied to a 2019 drug bust. In March, the CAB and Europol breached a separate wallet, also recovering 500 BTC.
The 500 BTC is part of a larger 6,000 BTC stash amassed by Clifton Collins, a former beekeeper who began growing and selling cannabis in 2005, according to The Guardian. Collins used drug profits to buy bitcoin in late 2011 and early 2012, when the asset traded at a few dollars per BTC.
Collins stored the private keys to the bitcoin wallets in a fishing rod case at a rented property in County Galway before the keys were reportedly lost during his imprisonment following his arrest in 2017.
Arkham data currently shows wallets tagged “Clifton Collins: Lost Keys” holding roughly 5,000 BTC valued at about $387.2 million at current prices.
Meanwhile, in a separate development, blockchain data tracked by Arkham showed wallets labeled as “U.S. government-controlled FTX Alameda seized funds” moving multiple assets over the past 24 hours.
The transfers included 289.65 ETH worth about $610,840 and 290,416 USDT sent to Coinbase Prime deposit addresses, alongside 643,034 DAI transferred to an untagged wallet address.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI demand drives TSMC to accelerate capacity expansion, 2nm monthly production aims for 120,000 wafers by year-end
According to reports, industry giants such as Apple, Nvidia, and AMD have collectively increased their orders by 10% to 20%, directly boosting TSMC's 2nm monthly production capacity to 120,000 wafers by the end of the year, which exceeds the previous estimate by more than 20% and brings forward the 2027 target by two years. For the first time in history, five factories will ramp up production simultaneously, and the annual compound growth rate of capacity from 2026 to 2028 will reach as high as 70%.
Long-term US Treasury Sell-off Continues! 10-Year Treasury Yield Breaks 5.2% Again, “AI Boom vs. Rising Financing Costs” Narrative Showdown Intensifies
On Monday, oil prices rose and US Treasury bonds were sold off again as former US President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz, heightening concerns about inflation.
Banks Have Been Earning Effortlessly from Idle Funds for Years—Will AI Agents Change Everything?
For years, banks have profited from customers' idle funds, but AI agents may be about to change this situation.
Goldman Sachs: US stocks are showing a "strong index, weak confidence" pattern; catch-up rally may become the main theme of the next phase
Goldman Sachs stated that the current U.S. stock market is showing an unusual pattern: while index performance is strong, investor confidence remains weak. This suggests that the market still has further upside potential, and stocks that previously lagged behind leading AI stocks may soon experience a catch-up rally.
Crypto prices
More
