CryptoSlate
A wallet linked to convicted Irish drug dealer Clifton Collins moved 500 BTC, worth about $41.5 million, to an address identified as a Coinbase Prime deposit after nearly 11 years without spending those coins. The October 20 transfer brings Bitcoin movements from Collins-linked wallets to 2,500 BTC, worth about $208 million at a price near $83,157.
Why it matters
The coins are part of a fortune Collins reportedly accumulated through drug dealing and split among 12 wallets. He was imprisoned in 2017, and the private keys were widely believed lost after belongings containing printed copies were reportedly discarded at a landfill in County Galway.
Ireland's Criminal Assets Bureau, working with Europol's European Cybercrime Center, confirmed access to three 500 BTC tranches earlier in the year. Arkham Intelligence considers law enforcement the most likely party behind the recurring transfers, but Irish authorities have not publicly confirmed their role in the latest transaction.
Market impact
About 3,500 BTC, valued at roughly $291 million, remains in wallets Arkham associates with Collins. The latest transfer followed the pattern of earlier movements, and the receiving address split the funds across 42 outputs, including 40 transfers of 10 BTC each.
A Coinbase Prime deposit does not establish that the Bitcoin was sold. The transactions do not identify who authorized the transfer or what will happen to the funds; Ireland's bureau handles seized assets under applicable court orders.
Frequently asked questions
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How much Bitcoin moved in the latest Collins-linked transaction?
The wallet transferred 500 BTC, worth about $41.5 million, to an address identified as a Coinbase Prime deposit.
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How much Bitcoin has moved from wallets linked to Collins?
Movements total 2,500 BTC, valued at approximately $208 million at a Bitcoin price near $83,157.
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How much Bitcoin remains in wallets associated with Collins?
About 3,500 BTC, valued at roughly $291 million, remains in wallets Arkham associates with Collins.
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Does the Coinbase Prime transfer mean the Bitcoin was sold?
No. A Coinbase Prime deposit can provide custody or trading services, and the transaction does not establish that the Bitcoin was sold.
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Have Irish authorities confirmed responsibility for the latest transfer?
No. Arkham considers law enforcement the most likely party behind the recurring movements, but Irish authorities have not publicly confirmed their role in the latest transaction.
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