Smashing Security This man hid $400 million in a fishing rod. Then it vanished
Apr 1, 2026
Danny Palmer, cybersecurity journalist and interim deputy editor at Infosecurity Magazine, joins to unpack a bizarre Bitcoin mystery and a major football-club data breach. They explore how a drug-funded 6,000 BTC stash was hidden in a fishing-rod case and why one frozen wallet suddenly moved $35M. They also cover Ajax’s breached supporter data, ticket theft risks, and how app flaws can turn into stadium security nightmares.
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Drug Dealer Hid $400M Bitcoin In Fishing Rod
- Clifton Collins hid 12 printed Bitcoin seed phrases folded inside the aluminium cap of his fishing rod case.
- He bought 6,000 BTC in 2011, split into 12 wallets of 500 BTC each, and claimed the fishing rod with the codes later vanished.
Police Seized Wallets But Codes Went Missing
- After Clifton's arrest police seized wallets but couldn't access funds because he said the fishing rod case with the codes had been stolen or dumped.
- He went to prison and the wallets stayed frozen for years while investigators believed his account of missing codes.
Frozen Wallet Movement Forces Paper Trail
- One of Collins' dormant wallets recently moved roughly $35M into a Coinbase Custody address, forcing identity verification and a paper trail.
- That transfer implies either law enforcement accessed the wallet or someone with the seed surfaced and chose a regulated custodian.