The coins had been inactive for more than 10 years. The Bitcoin Foundation editorial team explains what is happening.
Bitcoins belonging to Clifton Collins, inactive for more than a decade, have begun moving. According to Arkham Intelligence, 1,000 BTC▲$62,407.00 worth approximately $77 million have been transferred from wallets linked to him over the past two months.
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The Criminal’s Bitcoin Wallet Story
Collins, a 55-year-old Irishman from Dublin, bought bitcoin (BTC) in 2011-2012 using proceeds from cannabis sales. He accumulated approximately 6,000 BTC, which at the time were worth roughly $30K. At the market peak in the fall of 2025, his holdings were valued at $750M. Today, they are worth about $400M.
Collins claimed he printed the private keys and hid them inside a fishing rod in a rented house. After his arrest in 2020, he was evicted, and his belongings were thrown into a landfill. Until March 2026, the wallets remained completely inactive.
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Recent Movements
In March 2026, one of the wallets “woke up”—500 BTC were transferred to Coinbase Custody. On May 19, another 500 BTC were sent to an address linked to Wintermute and Binance. Arkham confirmed that both transfers belong to Collins’ cluster.
Why Did the BTC Wallet Wake Up?
There are several possible explanations:
- Irish police (Garda) may have found the keys and seized the funds. In March, they officially reported the seizure of 500 BTC.
- Collins may have kept a copy of the keys and lied during his arrest.
- The keys may have been stolen during a home burglary before his eviction.
Irish police and Europol continue to work on the case. Approximately 5,000 BTC from Collins’ original stash remain untouched.
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