Several months ago, the Bulgarian police arrested a large criminal organization and confiscated dozens of computers. The authorities were shocked to discover that the computers were holding over three billion dollars’ worth of Bitcoin.
Illustration Photo credit: Reuters/ Channel 2 News
Last May, the Bulgarian police raided a network of organized crime, arrested 24 suspects and confiscated dozens of computers and tablets.
The authorities were shocked to discover that the confiscated computers had virtual wallets with 213,519 Bitcoins, worth more than three billion dollars or more than one percent of the country’s GDP.
According to suspicions, the criminals bribed customs officials in several eastern European countries with the goal of infecting their computer systems with a virus, which would enable them to falsify records of cargo inspections. The virus allowed the organization to avoid making payments of customs duties.
At the time of the raid, the Bitcoins were worth approximately 500 million dollars. Since then, their value has increased by a shocking amount. The criminals used Bitcoin to store their funds as it is much more difficult to trace.