Hey ninjas, how’s the trading going? Clifton Collins, an alleged drug dealer who was recently arrested for drug trafficking spoke to the news on how he lost the keys to his bitcoin accounts. $56 million worth of bitcoin was ordered by the Irish high court to be confiscated from him after it was deemed criminal proceeds. He told the police that he can no longer access the accounts where the bitcoins are stored because of burglary.
On the 21st of February, the Irish Times reported that In an attempt to secure himself against theft, Clifton Collin’s made a decision to distribute more than 6000 BTC which he obtained in 2017 to 12 newly created accounts, leaving in each account with 500 BTC ($4.8 million at press time).
Clifton Collins explained that he printed out the keys to all 12 newly created BTC accounts and stored it in the aluminum cap of his fishing rod. He claimed that the fishing rod was stored in a house he rented County Galway, Ireland.
After he was arrested for selling cannabis his house was broken into and the landlord ordered the house cleared and many of Collins's possessions were discarded. The dump workers confirmed discarding a fishing rod but the dump was shipped to Germany and China. Clifton Collins spoke on his losses saying that it was punishment for his own “stupidity”.