Clifton Collins, a man who acquired 6,000 Bitcoin in 2011 and 2012 using the money he earned selling drugs like marijuana was arrested in 2017. At the time of buying, Bitcoin’s value was far from today’s price which is at almost over 10K USD.
During his 5 years sentence out of growing and selling marijuana, Collins’ landlord brought many of Collins’ possessions to a local dump during the process of clearing out his room. Little did the landlord knew, one of the items, which was a fishing rode case contained Bitcoin’s code or a private key to Collins’ digital asset worth 58 million USD.
Notably, Collins spread his Bitcoin across 12 accounts to guard against losing his crypto-fortune and printed out the codes to his bitcoin stash on a piece of paper. He then stuffed the same paper into the fishing rod case, which then was trashed by the landlord.
Reportedly, many similar cases happened in the past years. Gerald Cotten, owner of a Canadian cryptocurrency exchange died in December 2018, leaving behind $190 million in cryptocurrency for which he had the only password.
On the other hand, a man in the UK accidentally threw out a hard drive storing $127 million worth of Bitcoin codes.
What's Your Reaction?
Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.