Convicted Drug Dealer Forced to Give Up $56,000,000 in Bitcoin (BTC) in Ireland Seizure

Clifton Collins, a convicted drug dealer from a Southside suburb in Dublin, Ireland, has to hand over a Bitcoin fortune worth €52 million ($56 million) to authorities following a High Court ruling that says his cryptocurrency haul stems from criminal activity.

High Court justice Alex Owens ordered the Criminal Assets Bureau (CAB) to forfeit the Bitcoin assets of the 49-year-old under the Proceeds of Crime legislation, reports Independent.ie.

Inquiries into Collins’ digital assets started in 2017 when police found cannabis in a vehicle he was driving. A follow-up search connected him to large quantities of cannabis plants growing in Farnaught, Corr na Móna.

Collins was later charged with offenses under the Misuse of Drugs Act.

The CAB secured a freezing order to ensure that the seized Bitcoin will not be removed from its wallet without approval from the court.

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