BlockBeats News, March 25 — According to Bitcoin News, 500 BTC related to Irish drug dealer Clifton Collins was transferred on-chain after being considered lost for nearly 10 years. Collins purchased 6,000 BTC with proceeds from marijuana sales between 2011 and 2012, stored them across 12 wallets, and wrote the private keys on paper, hiding them in a fishing rod box in a rented property in Galway, Ireland.
After Collins was arrested in 2017, the property was cleared out, and the items were sent to a landfill. Both authorities and Collins himself believed the private keys were permanently lost. The court ruled that the funds be confiscated as criminal proceeds. The recent on-chain transfer of 500 BTC suggests that at least some of these assets may not have been lost.
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