Bulgaria government shocked to discover it owns $3 billion in Bitcoin

Bulgaria Government Shocked To Discover It Owns $3 Billion In Bitcoin



Bulgaria’s GDP is about $52.4 billion (2016), so it is quite a shock that the Bulgarian Government is sitting on an approximate $3 billion worth of Bitcoins seized in an anti-corruption operation back in May.

Putting this into a little more glaring context, Bulgaria is holding 18% of the national debt in bitcoins...

Bulgarian law enforcement jointly worked with the Southeast European Law Enforcement Center (SELC), a regional organization comprised of 12 member states, to bust a sophisticated organized-crime network, arresting twenty-three Bulgarian nationals and seizing a total of 213,519 bitcoins.

 

SELC described the organized-crime scheme as the hacking of Bulgarian Custom’s computers and allowing those associated with the group to skip fees for importing goods into the country. To make it work, the group recruited corrupt Customs officers to upload a virus into government machines, so that hackers could establish remote access.

The organized criminal group consisted in Bulgarian nationals having connections in The former Yugoslav Republic of Macedonia, Hellenic Republic, Romania and Republic of Serbia. The modus operandi used was recruiting corrupted Customs officers in all involved countries with the purpose to infiltrate a virus in the Customs’ computerized systems. Once the virus installed, from distance, the offenders were able to finalize various transports, as in the Customs’ system appeared that the cargo was already checked and passed.  

Further, SELC provided details of how the operation was conducted, involving a large-scale search of “more than 100 addresses, suspects, and vehicles.” Out of the 23 suspects arrested, 5 of them were Bulgarian Customs officers. Police seized “equipment, devices for communication, computers, tablets, and bank documents.”

Bulgarian authorities have searched more than 100 addresses, suspects and vehicles. A large quantity of money was seized, as well as equipment, devices for communication, computers, tablets, bank documents, etc. 23 suspects were arrested, 5 of them acting as Bulgarian Customs officers. As result of this criminal activity the damages recorded by the Customs Agency, only for year 2015, is around 10 million Leva.

Here is where things get interesting... Police also seized 213,519 bitcoins, at the time, worth $500 million. As of writing this article, the amount seized, is now worth approximately 3,676,583,661, according to CoinDesk.

As well, up to now were found in the virtual space bitcoin wallets of the main suspects with a total value of 213,519 bitcoins. As a reference, the value of one bitcoin is rating to 2354 USD. The offenders choose the bitcoin way of investing/saving the money, because it is rather difficult to be tracked and followed.  

SELC explained why the criminals used bitcoin,

The offenders choose the bitcoin way of investing/saving the money, because it is rather difficult to be tracked and followed.

What remains a mystery to most, is what the Bulgarian government will do with the seized bitcoins? As mentioned in the beginning, the national debt could certainly be reduced. Have we just discovered a large seller that is ready to pour cold water on the party?

Views: 117

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by DTOM on December 13, 2017 at 6:27am

Yes, because Bitcoin can't be stolen...

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega commented on Doc Vega's blog post Grooming the New Generation of Assassins
"cheeki kea, I fear that we are headed further down the road of inhumanity institutionalized by the…"
9 hours ago
omegamann is now a member of 12160 Social Network
16 hours ago
Doc Vega commented on Doc Vega's blog post Three Must See Movies for Halloween
"cheeki kea Thanks. I watched most of the movie but I'd forgotten until a few minutes into it…"
20 hours ago
cheeki kea commented on Doc Vega's blog post Three Must See Movies for Halloween
"That's a fine movie menu you've got Doc V. I love the old days theme. Great to view when…"
yesterday
Doc Vega posted a blog post

Three Must See Movies for Halloween

Grab Your Popcorn and Settle In!  If you really want to get in the mood for Halloween and you like…See More
yesterday
Bob of the Family Renner posted photos
yesterday
Doc Vega posted a blog post

Terror on All Hallows Eve

Chapter IElizabeth was angry. All of her friends were going to be out on Halloween, but her. She…See More
Monday
Jeff favorited Jeff's profile
Monday
Jeff favorited Jeff's profile
Monday
Jeff favorited Doc Vega's profile
Monday
Jeff is now a member of 12160 Social Network
Sunday
Doc Vega posted blog posts
Oct 24
tjdavis posted a video

How Corporations Are Secretly Poisoning Our Food Supply

Dupont and 3M have been secretly poisoning America for decades. PFAs — also known as forever chemicals—are now in our food, water, clothes, and our blood. Th...
Oct 24
Doc Vega posted a blog post

They Won’t Stop

 The demonically driven left will not stop. Makes no difference how much violence they call for or…See More
Oct 22
Doc Vega posted a blog post

What US Scientist unwittingly helped the Nazis devise the V-2 Missile?

  In the early 1920’s and leading up to World War II German technology outpaces the peace time…See More
Oct 20
tjdavis favorited Sandy's video
Oct 19
tjdavis posted a photo
Oct 19
Christopher Walker is now a member of 12160 Social Network
Oct 19
tjdavis posted videos
Oct 19
Burbia commented on tjdavis's photo
Thumbnail

Reflection

"Let's see if this goes past indictment."
Oct 18

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted