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 data shows the seized bitcoin finally moved to Wintermute, a cryptocurrency trading firm. The onchain tracker issued an alert 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 Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.