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The Irish Criminal Assets Bureau (Cab) is currently holding seized cryptocurrency worth almost €350 million, which it has been unable to access for more than five years. The bitcoin, held in 12 wallets, was originally seized from a former Dublin beekeeper who had been growing cannabis crops for years without detection. The value of the bitcoin has increased significantly since its seizure, rising from $56 million to $378 million. The inability to access the cryptocurrency is due to the lack of private keys required to unlock the wallets. This situation highlights the challenges law enforcement faces in dealing with digital assets.
Bohemia and Cannabia Dark Web Markets Taken Down After Joint Police Operation: https://t.co/astDxyHuq6 by The Hacker News #infosec #cybersecurity #technology #news
🌍 Dutch police have dismantled Bohemia and Cannabia, the largest #darkweb markets for illegal goods and cybercrime. Arrests in the Netherlands and Ireland, with €8M in seized #cryptocurrency, prove dark web anonymity is fading. Read: https://t.co/aEHZ2FFrxo #cybersecurity
NEW: 🇮🇪 Ireland's Crime Bureau can't get access to drug dealer's $378m #Bitcoin it "seized" in 2020 because it doesn't have the private keys to the wallet. The value of the Bitcoin has since gone up in value from $56m to $378 since it was seized.