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The Criminal Assets Bureau in Ireland has seized BTC worth $378 million from drug traffickers but cannot access it.
According to Jinse Finance, the Criminal Assets Bureau (CAB) in Ireland holds BTC seized from a drug dealer in 2019, but has been unable to access it despite its value soaring to 345 million euros (378 million US dollars). In 2020, the Irish High Court ruled that the BTC was the result of criminal activity, and it was seized from Clifton Collins, worth about $56 million at the time. He claimed to have hidden a file containing his BTC Wallet seed phrase in a fishing rod box at a rental property in Goreway County. The fishing rod box was lost after a burglary at his home, but the file may also have been lost during the cleanup of the property after his arrest. CAB has been unable to access the BTC stored in 12 Wallets over the past four years—during this time, the price of BTC has pumped from around $9,000 to over $62,000.