A Bitcoin (CRYPTO: BTC) stash linked to Irish drug dealer Clifton Collins, which was inactive for 10 years and deemed unrecoverable, suddenly moved on Thursday.

Dormant BTC Moved To Coinbase

On-chain analytics firm Arkham Intelligence flagged the transfer on X, showing 500 BTC, worth $35.43 million, moving to an unidentified address. From there, the funds were sent to a Coinbase Prime wallet.

The last recorded transfer to the wallet, labeled “Clifton Collins: Lost Keys,” happened ten years ago.

As of this writing, the wallet still holds 5,500 BTC, valued at approximately $391 million.

Have Authorities Gained Access To The Illicit BTC

Collins was arrested in 2017 and his belongings—including private keys hidden in a fishing rod case—were discarded in a landfill, The Guardian reported in 2020. An Irish court ordered the confiscation of his illicit BTC funds, but the private keys were lost, leading both authorities and Collins to believe the assets were unrecoverable.

However, authorities now appear to have gained access to the stash.

Ireland’s Criminal Assets Bureau, in partnership with Europol, confiscated 500 Bitcoin on Tuesday. While authorities provided no context on the investigation or ownership, The Irish Times reported that it was linked to the Collins case.

The agency told Benzinga it had no additional information to share.

Price Action: At the time of writing, BTC was exchanging hands at $70,866.22, down 0.37% in the last 24 hours, according to data from Benzinga Pro.

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