Irish drug dealer loses codes to bitcoins worth $58.5 million

49-year-old Irish citizen Clifton Collins lost access to $58.5 million in bitcoins after his landlord threw out the codes written on a piece of paper.

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According to the Irish Times report, convicted drug dealer Clifton Collins lost codes to 6,000 bitcoins that he had purchased between 2011 and 2012 when the cryptocurrency’s price varied between $4 and $6. Clifton’s landlord threw out bitcoin codes that were written on a piece of A4 paper and stuffed in a fishing rod case.

 

Clifton is a convicted drug dealer.

According to the report, Clifton Collins was arrested in 2017 for growing and selling cannabis and was for that he was hit with a five-year prison sentence. After Collins was arrested and sent to jail, his landlord sent many his possessions to a local dump during the process of clearing out Collins’ room. The landlord also threw out the road case that had the piece of paper with codes to 6,000 bitcoins. 

 

Clifton Collins had spread his 6000 bitcoins across 12 accounts.

In early 2017, Collins had just over 6,000 bitcoins in one account, but he feared that it might be easier for hackers to steal all his bitcoins if he kept them in one place. He then dispersed all the bitcoins into 12 different accounts and printed the codes on a piece of paper that he stuffed into the finishing rode case. Even if he had access to the funds, the Irish authorities would have seized them as they were proceeds from illicit activities

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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