Irish authorities seize 500 Bitcoin, 2026 haul reaches 1,500 BTC
In brief
- Irish authorities recovered 500 Bitcoin in criminal proceeds this week
- CAB's 2026 Bitcoin seizures total 1,500 BTC, valued at $92.4 million
- Seizure linked to Clifton Collins, convicted drug dealer who purchased 6,000 BTC in 2011-2012
- Europol provided decryption support and technical expertise during investigation
The seizure and its scale
Irish authorities recovered 500 Bitcoin in the latest operation, currently worth about 27 million euros ($30.9 million). The Criminal Assets Bureau worked with Europol's European Cybercrime Centre, which provided operational coordination, technical expertise, and decryption support throughout the investigation.
The operation is part of a larger recovery effort. CAB previously seized another 500 Bitcoin linked to the same target months earlier. That brings the total Bitcoin seized by CAB in 2026 to 1,500 BTC, worth about $92.4 million, the law enforcement agency said in a social media post on Thursday.
The source: a convicted drug dealer's fortune
The Bitcoin traces back to Clifton Collins, a drug dealer arrested in 2017 after police found cannabis in his car. Collins purchased 6,000 Bitcoin in late 2011 and early 2012 using proceeds from his drug operation. He stored the wallet keys on a single sheet of A4 paper, hidden inside the aluminum cap of a fishing rod case at his residence.
The wallet authorities accessed in March was one of 12 holding about 6,000 BTC once owned by Collins. A wallet address associated with him moved 500 Bitcoin to an unknown address on Thursday, suggesting ongoing movement of the remaining funds. Wallets associated with Collins still hold 4,500 Bitcoin, worth about $277 million as of Friday.
The recovery underscores how law enforcement agencies are using advanced decryption tools to access decades-old cryptocurrency holdings tied to criminal activity. CAB's coordination with Europol demonstrates the cross-border nature of modern asset recovery operations.
