The Bulgarian Government Is Sitting On Billions Of Dollars In Battle
The Bulgarian Government Is Sitting On Billions Of Dollars In Battle

The abolition of organized crime by Bulgarian law enforcement in May resulted in the seizure of more than $ 200 billion in bitcoin worth more than $ 3 billion at today’s prices.

According to a public announcement by the Center for the Enforcement of Laws of Southeastern Europe (SELEC) of 19 May, a regional organization consisting of 12 member states including Bulgaria, a total of 213,519 battles were seized this month. Twenty-three Bulgarian citizens were arrested during the operation and officials said that the arrests and subsequent seizure of property were followed by an investigation into alleged fraud in customs fraud.

At the time of the press, the value confiscated by CoinDesk’s Bitcoin Price Index (BPI) is worth about $ 3.3 billion at a cost of about $ 15,524.

At that time, the authorities commented:

“The perpetrators choose the fight and the way to invest / save money because it is difficult to prosecute and persecute.”

They also claimed that the parties had developed a virus used to hack computers in Bulgaria’s customs, allowing the perpetrators to skip tolls when sending goods into the country. According to the published report, the virus was placed by judged agents on government machines.

All in all, the alleged perpetrators avoided paying about 10 million leva (the national currency in Bulgaria) worth about $ 6 million.

At the moment it remains unclear what the Bulgarian government is doing with confiscated battles.

According to the Bivol.bg report of 28 November, the Bulgarian government refused to publish further details by citing a criminal investigation.

When it was released on May 19, it was found that at the time of publication, one bit was worth $ 2,354. The statement states that the total amount confiscated is $ 500 million – less than one sixth of what it is today.

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