Authorities nab hacker who stole from Bill Gates

Law enforcement in the Phillipines has nabbed the alleged leader of a bank card cloning ring who once stole from Microsoft founder Bill Gates.

Bulgarian hacker Konstantin Simeonov Kavrakov was withdrawing cash from an ATM using fake debit cards in Quezon City when he was arrested, according to reports.

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The 31-year-old was carrying seven credit cards, nine ATM receipts, a mobile phone and a bag contaning the equivalent of more than $1,700.

Kavrakov is allegedly part of the Super Hacker Bulgarian Group, an international cybercrime collective that reportedly deals in stolen bank account information. The group has operated in the United States and Europe for at least a decade.

Kavrakov is known in cyber circles for his 2011 arrest in Paraguay for allegedly hacking Bill Gates's account and stealing thousands of dollars. He has been active since 2004, according to Interpol.

The business of creating fake bank cards from hacked account data is huge on the international black market, allowing cyber criminals to drain accounts from the average ATM.