Bitcon, the one word which has been ever trending and keeping us on our toes,sending the financial world in a tizzy.
And one more of the Bitcon’s many theories comes another one.
Bit con found in Bulgaria
The Bulgarian police recently unearthed and seized Bit con worth over thousands of units.The amount is over 213,519 Bit cons which it has a staggering value of 3.6 billion.
This was seized way back in May when the value of Bit con which no one anticipated to surge was risen by around 600 percent.
What was the operation all about?
The Bulgarian Law Enforcement officer along with the Southeast European Law Enforcement Center which has 12 member states worked together in tandem to crack down the most clever organized crime network.
The operation involved a massive hunt hunting for over 100 addressees,their eventually suspects and vehicles.
What’s more out of the 23 Bulgarian suspects 5 themselves were custom officers.
What did the authorities find out?
The organization consists of the 12 member states.The Bulgarian author ties have seized a lot of equipment,various devices which were used for communication,tablets and bank accounts.
Why had the offenders used Bitcon?
According to the intruders Bitcon is a comparatively difficult option to track and rather one of the most difficult to have a crackdown.The currency was popular with the criminals as it was not easy to have a breakthrough with it and secondly the transaction could be made anonymously without revelation of your name.
Who exactly were these offenders?
The criminals were mostly Bulgarian nationals with some of the connections from Yugoslavia,Greece,Romania and Serbia.
Some of the custom officers were operating with a view to penetrate a virus in the customs computerized systems.
How does the virus work?
Once the virus is installed the intruders can change the shipments so that it is already appeared checked and passed.
What is the currency all about?
It is made up of lines of computer code which are digitally signed as they travel from one owner to another.It is quite a popular currency with tech enthusiast,speculators and yes the criminals.
It is similar to cracking a code and it takes more than 1.7 billion attempt’s along with a lot of computing power and electricity.
Unlike Banks this money is regulated by the Government and the most important part of Bit-con is they are untraceable and unreachable.