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The government of Bulgaria owns seized Bitcoins for $ 3 billion


The suppression of the activities of an organized criminal group by Bulgarian law enforcement agencies in May led to the seizure of more than 200,000 Bitcoins - more than $ 3 billion at today's prices. According to a press release from the Center for the Rule of Law of South Eastern Europe (SELEC) of May 19, a regional organization consisting of 12 member states, including Bulgaria seized 213,519 BTC.

"Offenders choose Bitcoins, because they are difficult to track," investigators said.

According to them, the attackers developed a virus that was used to crack at Bulgarian customs, allowing criminals to skip the shipping fee when transporting goods to the country. In general, the alleged criminals "saved" 10 million leva (the national currency of Bulgaria), which is about $ 6 million. 

What remains unclear at this time is what the Bulgarian government is doing with the seized bitcoins.

According to a report from Bivol.bg from Nov. 28, the Bulgarian government declined to release further details, citing an ongoing criminal investigation.

Notable in the May 19 release is a notation that, at the time it was published, a single bitcoin was worth $2,354. The release stated that the total amount seized was worth $500 million – less than one-sixth of its current value today.

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