The article reads:
Drug dealer loses $58M in bitcoin after landlord accidentally throws codes out. The codes were printed onto a piece of paper and stuffed into a fishing rod case.
There is no way to verify the story but keeping aside the criminal activities for a moment, if true then 6000 BTC worth around $50-$60 million is a huge amount to lose.
In this case the person (Clifton Collins from Ireland) had €2,000 worth of cannabis in his car when he was stopped by the police and his car searched back in 2017. That allowed police to search his home and various other properties of connected people where money received from drug selling proceeds as well as other drugs were found.
He was sentenced to 5 years in prison but what nobody knew at the time was that his landlord where he was renting his accommodation packed his belongings and sent them to a rubbish dump.
One of the items that was dumped was a fishing rod along with its metal cap. It was inside this cap that he printed off and stored an A4 paper with the private keys to 12 wallets holding 500 Bitcoin each. He was buying up Bitcoin from his drug dealing profits mostly around 2011/2012 for around $5 per Bitcoin before it rocked in value. After an investigation the Irish police recovered around €1.5 million worth of Bitcoin from other wallets belong to Collins and also €100,000 cash.
Does anybody know what the biggest ever loss any individual incurred as a result of losing access to their private keys is?
Full story: https://www.cnet.com/news/drug-dealer-loses-58m-in-bitcoin-after-landlord-accidentally-throws-codes-out
Topic: Irish Drug Dealer Loses 6000 Bitcoin (Read 90 times)
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