600 powerful bitcoin-mining machines have been stolen in Iceland

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600 cryptocurrency mining machines worth more than $2 million have been stolen from data centers in Iceland in what is being called as one of the biggest thefts ever in the small island nation.

A total of 11 people have been arrested so far, however, none of the stolen machines have yet been found by police. It is worth noting that the cryptocurrency mining machines were stolen in December 2017 and January 2018 in series five tries but the officials only reported the incident now.

Officials are also demanding internet service providers and electricians to report any abnormal activities when it comes to a sudden rise in electricity usage. And that’s because cryptocurrency mining machines use a huge amount of electricity which is easily detectable by the issuing authority.

“Police tracking the stolen computers are monitoring electric consumption across the country in hopes the thieves will show their hand, according to an industry source who spoke on condition of anonymity because he is not allowed to speak to the media.”

Because of the energy is cheap in Iceland, it’s becoming a hot area for cryptocurrency miners and this is due to geothermal and hydroelectric power plants of the country. Which has ended with an influx of cryptocurrency miners travelling into the country in order to lower their costs.

Source: apnews.com

 

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William Fieldhouse

I currently work full time as a penetration tester and have been involved within the IT security industry for over a decade. I also love to pioneer any forms of new technology and ideologies for future advancements. Feel free to contact me at [email protected]

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William Fieldhouse

I currently work full time as a penetration tester and have been involved within the IT security industry for over a decade. I also love to pioneer any forms of new technology and ideologies for future advancements. Feel free to contact me at [email protected]

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