The Criminal Assets Bureau (CAB), a law enforcement agency in Ireland, has seized crypto assets worth of €52 million from drug dealer after the High Court ruled that it was the proceeds of crime.
In February 2017, local police stopped an SUV driven by Collins and found a quantity of cannabis in the vehicle. Then, during the investigation, a large number of suspected cannabis plants were found growing.
It is assumed that the drug dealer invested in Bitcoin in the early stages of its development, and its value as a cryptocurrency increased dramatically over the years.
The Criminal Assets Bureau received a freezing order to make sure that the funds cannot be withdrawn from its wallet without the court’s approval.