Around the World Cryptocurrency Europe

600 bitcoin computers nabbed in Iceland heists

Bicoin mining computers

(Rappler)– Around 600 computers used to mine bitcoin were stolen in Iceland in a series of large-scale heists in December and January, police said on Wednesday, March 7.

The servers were taken from data centers in Reykjanesbaer, near the Keflavik international airport in southwestern Iceland, and Borgarnes on the west coast.

Around 10 people were brought in for questioning, and two Icelanders in their 20s and 30s are currently in detention suspected of involvement in the crime, a police spokesman for southwestern Iceland told AFP.

He suggested the thefts could be linked to organized crime.”Everything points in that direction,” he said.

Bitcoin is a virtual currency created from computer code that allows anonymous transactions.

The thieves may have wanted to use the stolen equipment to “mine”, or create, bitcoin – a lucrative affair but one which requires advanced and expensive equipment.

Investigators are still trying to locate the missing equipment, which is valued at around 200 million kronur (1.6 million euros, $2 million).

The theft is one of the biggest ever seen in Iceland.

Bitcoin’s value has soared since it came into being in 2009, though it has more than halved in recent months. On December 16 it was valued at $19,377, compared to today’s $10,500.

Iceland has become a magnet for cryptocurrency farms, blockchain technologies and data centers because of its cold climate which is instrumental in cooling the energy-consuming servers, and its low electricity prices.

Source:: Rappler

About the author

Anane Ebenezer

I am from Ghana (West Africa).My core aim for developing TechGenez is to "Connect People All Over The World to the World of Technology". God Bless You for passing by.

Add Comment

Click here to post a comment

Translate »