Dormant Bitcoin Wallet Linked to Irish Dealer Moves $41.5M to Coinbase Prime

A Bitcoin $BTC wallet linked to convicted Irish drug dealer Clifton Collins transferred 500 BTC worth about $41.5M on Oct. 20 after nearly 11 years of inactivity, moving the funds to an address that blockchain analytics firm Arkham Intelligence identifies as a Coinbase $COIN Prime deposit. The transaction was the fifth 500 BTC transfer from Collins-linked addresses in 2026, bringing total movements this year to 2,500 BTC, valued at approximately $208M at a Bitcoin price of around $83,157. Collins accumulated roughly 6,000 BTC between 2011 and 2012 and reportedly stored the private keys for 12 separate 500 BTC wallets on paper inside a fishing rod case that his landlord disposed of at a County Galway landfill after Collins was imprisoned in 2017. Ireland's Criminal Assets Bureau (CAB), supported by Europol's European Cybercrime Center, officially confirmed recovering 1,500 BTC across three seizures in March, May, and July, though authorities have not publicly confirmed whether they executed the subsequent August and October transfers or how access to the wallets was restored. Following the Oct. 20 transfer, the receiving address distributed the coins across 42 outputs, including 40 transfers of 10 BTC each, while roughly 3,500 BTC worth about $291M remains in other wallets Arkham associates with Collins.