Bulgarian Hacker Who Stole Money from Bill Gates's Credit Card Arrested in Philippines - BestCyberNews: Online News Presenter in the present world

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Bulgarian Hacker Who Stole Money from Bill Gates's Credit Card Arrested in Philippines

On Thursday, the Quezon City Police arrested a Bulgarian national who was allegedly involved in hacking the account of the world’s richest man, Bill Gates in an entrapment operation.

A bunch of Bulgarians were arrested in Paraguay in 2011, At the time the fraudsters were said to have stolen over $4 million from American consumers, laundering their ill-gotten gains by purchasing luxury items on eBay.

Konstantin Simeonov Kavrakov as popularly called “king of the hackers”, he is the allegedly led the group in stealing money from the Microsoft boss prior to his arrest in Paraguay.

Police spokesman said during a press conference that they nabbed the suspect at the PS Bank branch at the corner of Scout Reyes Street in Barangay Paligsahan, Q.C. He was trying to withdraw money using counterfeit ATM cards around 9 p.m.

Police recovered seven credit cards from Karakov during the arrest, as well as a number of ATM receipts and 76,570 Pesos in cash.

Reginald Villansanta, the executive director of PAOCC (the Presidential Anti-Organized Crime Commission), says that Kavrakov is suspected of being part of an international fraud and cybercrime gang that has been hunted by authorities in many countries since 2004.

The arrest of Karakov comes in the wake of a PAOCC's "Operation Jugador", which is targeting foreign nationals engaged in cybercrime and illegal online gambling.

Kavrakov is said to have been arrested following a tip-off from a Filipino informant, and police say they will be exercising a search warrant to search his current residence a condominium in a nearby hotel complex.



Author Venkatesh Yalagandula Follow us Google + and Facebook and Twitter