When thieves resort to more traditional ways to steal cryptocurrencies

Author: Justin Low | Category: Cryptocurrency

The "Big Bitcoin Heist" sees 600 computers used for mining Bitcoin and other cryptocurrencies get stolen in Iceland

Local media are dubbing it the "Big Bitcoin Heist", after a series of large-scale robberies saw about 600 computers worth up to $2 million that are used to mine Bitcoin and other cryptocurrencies were stolen from data centers in Iceland.

The stolen hardware has not been found yet, but local police are said to be monitoring areas with high energy consumption. Up to 11 people were arrested as part of the investigation over the weekend.

Authorities reported that three of the four burglaries took place in December, while the fourth took place in January - although all incidents were not made public earlier as they hope to track down the perpetrator.

Iceland is recently turning into a hotbed for cryptocurrency miners, as they look to take advantage of the nation's geothermal and hydroelectric power plants - which are more cost-effective than other parts of the world.

I guess when you don't have the necessary skills to hack exchanges, you go for the smash-and-grab approach, eh?

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