March 29, 2024

Irish authorities confiscated $ 56 million bitcoins from drug dealer

Irish authorities confiscated $ 56 million bitcoins from drug dealer

The Irish Criminal Assets Bureau seized $ 52 million worth of bitcoins from a local drug dealer by court order

Law enforcement authorities launched an investigationafter the police found a large amount of marijuana in Clifton Collins’s car. During a further search of his house, a whole hemp plantation and a bitcoin wallet with a substantial supply of coins were discovered.

Following the arrest of the suspect, the High Court declared all cryptocurrency to be illegal proceeds and ordered the funds to be seized to prevent their further movement withoutpermissions.

According to the Irish Independent, Clifton Collins invested in bitcoins at the initial stage of market development, but the suspect in the drug trade did not want to challenge the court decision.

The increased interest of criminals in cryptocurrencyassociated with the possibility of anonymous remote payments. According to a Chainalysis study, the use of bitcoin in darknet markets has doubled over the past year.

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