Three Bulgarians have been put behind bars after the country’s anti-organized crime division took down an illegal scheme involving cryptocurrencies worth $3 million.
An Elaborate Scheme
According to the Bulgarian media outlet,, the country’s anti-organized crime division managed to take down an illegal scheme for cryptocurrency acquisition. The Special Forces have seized digital currencies worth $3 million, as well as a hardware wallet and notebooks containing accounts of fictitious and real individuals who were used in the elaborate scam.
The report also details that the arrested individuals had particularly good and in-depth knowledge in the field and have acted professionally and with an intent to commit the crime. According to the report, they used innovative mechanisms, specialized software, and intricate knowledge in the field of cryptocurrency trading.
Reportedly, the anti-organized crime division also seized a vehicle worth around $35,000, which was purportedly bought with money made from the illicit activities.
Cryptocurrency-Related Arrests Spiral in Bulgaria
While the court is yet to decide the guilt of the three arrested Bulgarians, this is not the first cryptocurrency-related crime recently unveiled in the country.
Just a few weeks ago, Live Bitcoin News reported that two Bulgarian officials have been arrested for accepting Bitcoin bribes for issuing illegal identity documents.
Cryptocurrency-related crime seems to be surging internationally. Japan is one of the latest countries hit with a pyramid scheme in the field. However, unlike Bulgaria’s $3 million case, this one involved more than 6,000 victims across 44 prefectures in the country and has managed to raise almost $70 million.
On top of that, the United Kingdom’s FCA also stepped up its efforts, doubling the number of investigations which pertain to cryptocurrency companies.
What do you think of the increased number of criminal cases in the field of cryptocurrencies? Don’t hesitate to let us know in the comments below!
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