Law enforcement in Ireland have seized 1,000 Bitcoin (BTC) worth $77.3 million U.S. as part of a drug case.
Ireland’s Criminal Assets Bureau and Europol said they secured several cryptocurrency wallets linked to a widespread drug investigation.
The case involves Clifton Collins, an Irish drug dealer who bought 6,000 Bitcoin in late 2011 and early 2012 using proceeds from illegal cannabis sales.
Bitcoin traded near $5 U.S. when Collins acquired the tokens 15 years ago.
Collins printed private keys for the crypto wallets on paper and hid them inside the aluminum cap of a fishing rod at a rented home in County Galway, Ireland.
After his 2017 arrest, the property was cleared, and the fishing gear was taken to a dump site.
Now, authorities say they have seized two crypto wallets belonging to Collins that contain 1,000 Bitcoin.
It is not clear if law enforcement is able to access the crypto wallets without the private keys.
But for Ireland, the Clifton Collins case is a rare example of authorities gaining access to Bitcoin that was previously viewed as untraceable.
An additional 5,000 BTC owned by Collins is still unaccounted for, leaving the case open for more potential crypto wallet recoveries.
Bitcoin is currently trading at $77,300 U.S.
