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Irish authorities have recovered another 500 Bitcoin from a dormant wallet linked to convicted cannabis cultivator Clifton Collins, bringing the Criminal Assets Bureau’s 2026 total to 1,500 BTC, worth more than $92 million at current prices.
The operation, carried out with technical support from Europol’s European Cybercrime Centre, represents one of Ireland’s largest digital asset confiscation efforts and underscores the growing ability of law enforcement agencies to pursue cryptocurrency linked to criminal activity years after convictions.
The latest phase of the Ireland CAB Bitcoin Seizure took place around July 2, when authorities successfully gained access to a third Bitcoin wallet connected to Collins. Each of the three wallets contained approximately 500 BTC, making the newest recovery worth about $31 million based on Bitcoin’s market value at the time.
The Criminal Assets Bureau confirmed the development through its official social media channels on Thursday but did not disclose the technical process used to unlock the wallet.
“CAB reported the news on its social media channels on Thursday.” — Criminal Assets Bureau (CAB)
Officials said Europol played a key role by facilitating meetings at its headquarters in The Hague and providing the technical decryption resources that supported the recovery effort.
According to authorities, the newly recovered Bitcoin has been transferred to institutional custody for management ahead of any future liquidation process.
The Ireland CAB Bitcoin Seizure now accounts for 1,500 BTC recovered since March 2026, while the remaining assets continue to be held under an existing confiscation order.
The Ireland CAB Bitcoin Seizure stems from the criminal case of Clifton Collins, a Dublin man convicted in 2017 for operating indoor cannabis farms across Cornamona, Kells, and Drumlish.
According to an Irish Times investigation published in 2020, Collins previously worked as a security guard before becoming a beekeeper and eventually moving into full-time cannabis cultivation around 2005.
His arrest followed a Garda patrol in the Wicklow Mountains during the early hours of February 7, 2017. Officers discovered cannabis valued at approximately €2,000, leading investigators to additional properties where more than 500 cannabis plants worth roughly €406,000 were uncovered.
Investigators later established that Collins had purchased around 6,000 Bitcoin between late 2011 and early 2012, when the cryptocurrency traded for only a few dollars per coin.
To secure the holdings, Collins divided the Bitcoin across 12 wallets and printed the private keys on paper, hiding them inside the aluminium cap of a fishing rod case kept at a rented property.
However, after his arrest, the landlord cleared the property and disposed of its contents in a landfill, including the fishing rod case. Collins subsequently informed investigators that the private keys had been permanently lost, leaving most of the Bitcoin inaccessible for years.
Although Irish courts ruled around 2019 that the Bitcoin represented proceeds of crime and ordered their confiscation, authorities could not immediately access the wallets.
On-chain records showed no movement from the wallets between Collins’ arrest in 2017 and the first successful recovery in March 2026.
“CAB has not disclosed the technical method behind the wallet access, standard practice during an active case.” — Criminal Assets Bureau
Authorities credited Europol for providing technical assistance throughout the operation.
“Officials credit Europol with hosting meetings in The Hague and supplying the decryption resources that made the breach possible.” — Criminal Assets Bureau
The prolonged inactivity reinforced investigators’ position that the wallets genuinely remained inaccessible despite the confiscation order. During those years, Bitcoin’s rising price significantly increased the value of the frozen assets without changing the number of coins involved.
Before authorities began unlocking the larger wallets, Collins had already surrendered smaller amounts of recoverable Bitcoin along with other seized assets, including a gyroplane, a fishing boat and a camper van. Those earlier recoveries generated approximately €1.2 million for the Irish state.
During interviews with investigators, Collins reportedly attributed his involvement in cannabis cultivation to what he described as “stupidity” and “addiction.” He ultimately served part of a five-year prison sentence under Ireland’s Misuse of Drugs Act, with part of the sentence suspended.
Despite the latest success, the Ireland CAB Bitcoin Seizure is far from complete.
Authorities estimate that approximately 4,500 BTC remain locked inside nine inaccessible wallets. At current market prices, those assets are valued at roughly $275 million, making them substantially larger than the amount already recovered.
The Criminal Assets Bureau continues working under the existing confiscation order while pursuing technical methods to gain access to the remaining wallets.
Blockchain analytics company Arkham Intelligence has tracked the wallet cluster over the years, monitoring movements associated with Collins’ holdings and identifying each recovery as it occurs on-chain.
If Irish authorities eventually recover all 6,000 BTC originally linked to the case, the Ireland CAB Bitcoin Seizure would become one of the largest cryptocurrency forfeiture operations ever carried out by an Irish law enforcement agency.
The case also illustrates how cryptocurrency once believed to be permanently inaccessible can re-emerge years later when legal authority, technological capabilities and international cooperation converge.
As the Ireland CAB Bitcoin Seizure continues, investigators remain focused on accessing the remaining wallets, a development that could further reshape Ireland’s record for digital asset confiscation.
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