A wallet linked to Clifton Collins has just moved $35 million worth of Bitcoin to Coinbase Custody.
Collins is the seventh richest on-chain individual in the world, according to Arkham Intel, and is an Irish drug dealer. In 2011 and 2012, he bought about 6,000 BTC, and in 2017, he was jailed, and his belongings were cleared out by his landlord.
Source: Arkham Intelligence
At the time, Collins stored the private keys to his Bitcoin on a piece of paper hidden inside a fishing rod. When the landlord cleared out his apartment, the paper was thrown into a dump, and Collins thought his Bitcoin was lost forever.
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Collins Bitcoin Transfer Mystery
The recent $35 million transfer to Coinbase Custody makes it unlikely that the Bitcoin is lost. The transaction suggests someone now has access to Collins’ stash.
Source: Arkham Intelligence
So far, there have been several theories regarding who controls the remaining Bitcoin. Some reports suggest that the Irish police, the Criminal Assets Bureau, and Europol may have seized part of the fortune. The Gardaí confirmed the seizure of “approximately €30 million in cryptocurrency,” which aligns with data showing 500 BTC moving from Collins’ wallet.
Source: garda.ie
It is also possible that Collins, now out of prison, may have retained a copy of the private keys. Alternatively, in 2020, there was a reported break-in at his house, and the burglars may have been looking for his Bitcoin keys. So far, the purpose of the transfer and who made the transfer has not been clarified.
Prior to his arrest, Collins worked as a security guard and a beekeeper before he turned to full-time cannabis cultivation around 2005. He even won awards for his honey before his criminal activities brought him to prison.
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