The words uncertainty, rise, fall, volatility are all part of the crypto lexicon. And now Bulgaria has added yet another word; mystery. The global crypto community is still flustered and confused by the mystery surrounding the 200k Bitcoins that were seized as a part of a cybercrime operation in Bulgaria. What happened to these coins is a question that is yet to be answered and a question that the authorities tend to dodge sparking a string of debates and discussions. The contradictory responses from those in positions of power add to the confusion clouding the whole situation. Read along to know more about those 200k Bitcoins shrouded in a cloak of mystery.
The What and Why
In the year 2017, with a report from the Southeast European Law Enforcement Center (SELEC), it came to global attention that a total of 213,519 Bitcoins were seized by the Bulgarian authorities as a part of a crackdown on an alleged customs fraud scam. The name of the operation was ‘Pratka/Virus.’ Its primary focus was a scheme that compromised the computer systems of customs for the purpose of evading tax. According to the authorities, a virus was created by those involved in the scam which had the ability to hack into the computers of Bulgarian Customs, thereby helping the criminals dodge the payment of fees while transporting goods into the country.
If the press release reports are to be believed, certain officials within the government were bribed, who helped upload the virus to the Government computer systems. If the estimates are accurate, then the Bitcoins seized back then will be worth a whopping $7.4 billion now. However, the fate of those Bitcoins is a mystery that is yet to be solved. Despite the continuous questions raised, the authorities stubbornly wear a mask of ignorance and denial. Recently, a local media news, Club Z, and a member of the parliament had raised questions regarding the confiscated fortune.
Some of the authorities are not just feigning ignorance but outright denying the existence of such coins. For instance, Ivan Geshev, the specialized Prosecutor’s Office chief is of the opinion that the claims of SELEC are false. The same tone of denial was adopted by almost all authorities when faced with the question of the seized Bitcoins. A bit different was the response of the Finance department which ordered an investigation on the case. The outcome of the investigation corroborates what the authorities are saying and negates the existence of the seized assets.
