IRELAND: CAB UNABLE TO ACCESS €52 MILLION IN DRUGS PROFITS AS BITCOIN CODES LOST

On 21 February, the Irish Examiner reported that the Criminal Assets Bureau (CAB) is not yet able to access the €52 million in Bitcoin seized as part of a recent drugs investigation as the codes to access the cryptocurrency are missing.  A freezing order has been obtained in respect of the funds, in what is believed to be the largest single-value asset ever seized by CAB.  It is believed that the codes were hidden in fishing rods which were thrown away after the house of the owner of the Bitcoins was cleared out during his time in prison.

https://www.irishexaminer.com/breakingnews/ireland/–983224.html

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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