Irish Drug Dealer Tells Police That Keys to $56M in Confiscated BTC Are Lost
Cointelegraph
Published Feb 21, 2020 11:48AM ET
Updated Feb 21, 2020 01:22PM ET
Irish Drug Dealer Tells Police That Keys to $56M in Confiscated BTC Are Lost
Dubliner Clifton Collins, who was recently imprisoned for drug trafficking, claims that robbers took the keys to the $56 million in Bitcoin (BTC) Irish High Court had ruled should be confiscated.
After obtaining more than 6,000 BTC by 2017, Collins decided to insure himself against hackers by distributing the cryptocurrency across 12 newly created accounts. Thus, he transferred 500 BTC into each of them, the Irish Times reported on Feb. 21. As of press time, that would leave each wallet worth roughly $4.87 million.
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Written By: Cointelegraph
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