Irish Police Unlock €30 Million Bitcoin Wallet Seized in 2019
In a landmark development for law enforcement and the cryptocurrency world, the Irish Criminal Assets Bureau (CAB) has successfully gained access to a Bitcoin wallet containing approximately €30 million (roughly $35 million as of March 25, 2026) worth of cryptocurrency. The wallet was originally seized in 2019 as part of a criminal investigation, but access was lost due to the missing private keys.
The breakthrough, achieved in collaboration with Europol, marks the first time CAB has been able to access any of 12 virtual wallets – containing a total of 6,000 Bitcoin valued at approximately €360 million – seized seven years ago. The private keys to these wallets had been misplaced, stored in a fishing rod case, effectively locking authorities out of the funds.
Approximately 500 Bitcoin was recovered from the accessed wallet, with each Bitcoin currently valued at around €60,000. The recovered funds are proceeds of crime and will be subject to confiscation.
Europol’s Critical Role
Europol’s European Cybercrime Centre played a vital role in the operation, providing “highly complex technical expertise and decryption resources” essential to unlocking the wallet. Operational meetings were hosted at Europol’s headquarters in The Hague, Netherlands, to support Bureau investigators and analysts. The Irish Times
The Clifton Collins Connection
The recovered Bitcoin is linked to convicted criminal Clifton Collins, who was sentenced to five years in prison in 2017 for cultivating and selling cannabis. Collins purchased 6,000 Bitcoin with the proceeds of his criminal activity, distributing the coins equally across the 12 wallets. He printed the private keys on a piece of paper and hid them in a fishing rod case in a rented apartment. After his arrest, the landlord discarded the case, and the keys were lost. Bitcoin Foundation
Implications for Lost Bitcoin
This case challenges the long-held assumption that lost Bitcoin is permanently inaccessible. While the specific method used to regain access to the wallet has not been disclosed, the success of the CAB operation raises the possibility that other “lost” Bitcoin may be recoverable. Coinfomania
The remaining 11 wallets, containing 5,500 Bitcoin currently valued at approximately $400 million, remain inaccessible. However, the CAB’s success demonstrates that law enforcement agencies can, in certain circumstances, regain control over confiscated cryptocurrency assets. Irish Mirror
Key Takeaways
- The Irish Criminal Assets Bureau (CAB) has successfully accessed a Bitcoin wallet containing €30 million worth of cryptocurrency.
- Europol provided critical technical support in unlocking the wallet.
- The recovered Bitcoin is linked to convicted criminal Clifton Collins.
- This case demonstrates that lost Bitcoin may not be permanently inaccessible.
- 11 additional wallets linked to the same case remain locked, containing approximately $400 million worth of Bitcoin.
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