Culprits Apprehended In Alleged Icelandic Bitcoin Miner Theft

Culprits Apprehended In Alleged Icelandic Bitcoin Miner Theft


Icelandic Information Technology Advania confirmed with its security photographs that police detained two men’s right-handers for three thefts in data centers in Iceland in December and January, local news reported on Visir on February 21.

Earlier, Visir said that from December 5, 2017 to January 16, 2018, three thefts were carried out, which included 600 video cards, 100 power supplies, 100 motherboards, 100 memory drives and 100 CPU processors were taken from the house in the municipality of Reykjanesbær.

The robbers also got into data centers in the Borgarbigger municipality, with a total of 600 computers stolen from both places.

Advania announced that the thieves crashed into a new construction building in Reykjanesbær in mid-January, but fortunately the building was well covered by security cameras.

Advania told Visir that the stolen “is not a device that stores data but financial losses,” but they can not indicate what type of equipment was abducted as a result of the ongoing investigation.

Some Advania data centers are specifically developed for Bitcoin mining (BTC), and Iceland as a country has become a place for crypto miners, driven to a naturally cold climate and access to renewable energy.

According to the local Ruv informational network, the police monitor energy consumption for an abnormal increase after the theft, as it is reported that stolen computer equipment can be used to extract BTC, an energy intensive process. It is still unknown whether the equipment still remains in Iceland; Ruv reports that two men in custody did not cooperate with the police.

The total cost stolen from all three thefts is estimated at 200 million crowns, or $ 1,990,000 USA.

Eyjólfur Magnús Kristinsson, general manager of Advania Data Center, said that either a fourth or fifth of this total cost was stolen from Advania.

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