Arkham detected on May 20 that another transfer involving 500 BTC (about $38 million) associated with the Irish drug trafficker Clifton Collins has taken place again. This is the second anomaly after the first time 500 BTC were moved about a month earlier. Between 2011 and 2012, Collins bought 6,000 BTC for approximately $30k.
Confirmation data for the latest transfer
(Source: Arkham)
According to Arkham on-chain monitoring and confirmation (May 20, 2026):
Transfer size this time: 500 BTC, worth about $38 million at current prices
First transfer (about a month ago): 500 BTC moved for the first time after 10 years of dormancy
Where the funds went: Arkham records the related BTC being transferred into a Coinbase Custody (institutional-grade custody) address
Estimated value of Collins-related BTC currently: About $400 million, based on Arkham data
Details of the seizure confirmed by Ireland’s Garda
According to an official announcement released by the Irish Garda on March 24, 2026, it confirmed:
Confirmed seizure amount: Crypto assets worth about €30 million
Participating organizations: Irish Garda, Criminal Assets Bureau (CAB), Europol
Alignment with on-chain data: Arkham notes that the Garda announcement’s “500 BTC” matches on-chain transaction data
Unpublished details: As of now, Garda has not explained how it recovered the private keys that were originally believed to have been destroyed
Confirmed background of Clifton Collins
According to confirmation from Arkham’s public information:
Career background: Former security guard, beekeeper, then later involved in drug trafficking
Bitcoin purchases: Between 2011 and 2012, bought 6,000 BTC for about $30k (about $5 per BTC at the time)
Time of arrest: In 2017, sentenced to 5 years in prison for drug offenses
Reason the private key was lost: The private key was printed on A4 paper and hidden inside a fishing rod; after being evicted from his residence, the items were moved to a landfill in County Galway, and it is assumed the private key was subsequently transported to China or Germany for destruction
Arkham on-chain ranking: Currently estimated at about $400 million, making him the world’s seventh-largest on-chain crypto whale
FAQ
How much of Clifton Collins’s 6,000 BTC has currently been confirmed as transferred?
Based on Arkham’s on-chain monitoring, the two transfers of 500 BTC each (total 1,000 BTC) have been recorded. Ireland’s Garda official announcement confirmed the seizure of crypto assets worth about €30 million; there is no further official explanation yet on how the remaining BTC will be handled.
How did Garda recover the private keys originally believed to have been destroyed?
The Irish Garda’s March 24, 2026 announcement confirmed the seizure operation, but to date, the official has not explained how it recovered the private keys originally believed to have been permanently destroyed. Media and on-chain analysts have proposed multiple theories that have not been officially confirmed.
What is the Coinbase Custody that this batch of BTC was transferred into?
According to Arkham’s on-chain tracking, the related BTC were transferred into a Coinbase Custody address. This is an institutional-grade crypto custody service, typically used for formal scenarios such as law-enforcement seizures and institutional funds management.
