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Law enforcement agencies of Ireland are unable to access Bitcoin drug dealer

FXcoins - Law enforcement agencies of Ireland are unable to access Bitcoin drug dealer

The Irish Times reported that the Bureau of criminal assets (CAB) in Ireland is unable to access 6000 bitcoin seized from a drug dealer who claims that he lost the private keys to the wallets. The value of the confiscated bitcoins equal to 56.7 million USD at the current exchange rate.

 

In the drug trade accused the resident of Dublin, Clifton Collins, his assets, the court acknowledged the criminal income. At the CAB said that Collins began to acquire bitcoins in 2011-2012. But already in early 2017, he decided to share digital assets between 12 wallets for security purposes. On each one he enumerated exactly 500 BTC, and private keys are printed on a sheet of A4 paper.

 

Paper Collins hid in an aluminum cover for the rod, which was kept in a rented house. But after his arrest the same year, in the house there was a burglary, and the landlord ordered to vacate the home from things the drug dealer. Workers at the dump confirmed that they had seen a case with accessories for fishing. However, the debris from it is sent for incineration in Germany and China, so finding anything is impossible.

 

Collins said officers CAB, long resigned to the loss of cryptocurrency. Witnesses including the landlord and those who helped to break up the bitcoins to the addresses confirmed his testimony. However, the accused had in other accounts BTC for a total amount of 1.5 million euros, to which CAB have access to. The Bureau confiscated Collins this cryptocurrency and EUR 100 000.

 

CAB experts expect that in the future technical progress will allow them to dispose of confiscated 6000 BTC. While this is a record amount seized Bureau for 25 years. We will remind, well-known bitcoin critic Peter Schiff also lost access to their BTC as a result of loss of the private keys.

 

In addition, the Japanese cryptocurrency exchange Coincheck has announced plans to support coins Qtum (QTUM). It will be the twelfth digital currency available on the platform. But the exact date adding support for coins in Coincheck is not called.

 

Qtum developed in December 2016. It is argued that bitcoin combines the advantages of bitcoin and Ethereum. Blockchain Qtum supports smart contracts and serves as a platform for decentralized applications and making payments.

 

We will remind, Coincheck in January 2018 has been one of the largest hacks in the history of the industry. The damage amounted to about $530 million in tokens NEM. Japanese media believe that the attack was carried out by Russian hackers.

25 February 2020

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