A bitcoin wallet created on Jan. 1, 2016, moved 500 BTC on Tuesday for the first time in more than 10 years. Arkham Intelligence linked the transfer to convicted Irish drug dealer Clifton Collins, whose lost fortune Irish authorities have been recovering.
A bitcoin wallet established on Jan. 1, 2016, transferred 500 BTC for the first time in more than 10 years on Tuesday, while bitcoin's price stayed above $82,000. The coins went to Coinbase and were worth $41.33 million, according to Bitcoin.com News.
Arkham Intelligence linked the transfer to Collins and called it the fifth such movement this year. Arkham believes law enforcement is responsible, although officials have not independently confirmed this particular movement.
A lost-key fortune moves again
Collins originally accumulated 6,000 BTC between 2011 and 2012 using proceeds from cannabis trafficking. He later lost access to the private keys, which were reportedly hidden inside a fishing rod case discarded at a landfill.
U.Today reported that Collins split the coins across 12 wallets holding 500 BTC each. Ireland's Criminal Assets Bureau announced in March that it had accessed a previously inaccessible 500 BTC wallet with help from Europol's European Cybercrime Centre, the outlet said.
Bitcoin.com News counts 2,500 BTC moved in total after Tuesday's transaction. The remaining 3,500 BTC are valued at approximately $288 million.
Other dormant wallets wake up in October
Collins' coins are not the only old holdings in motion. Data from btcparser.com shows 23 dormant wallets awakened in October, moving 1,745.615 BTC valued at over $143 million.
Another wallet, established on Sept. 11, 2013, transferred 411.45 BTC. Arkham identifies the entity behind it only as an unidentified "BTC whale."
Meanwhile, bitcoin briefly surged past $83,000 on Oct. 20, hitting a daily peak of $83,335.
Sources: Bitcoin News, U.Today
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