600 mining rigs stolen in Iceland

Iceland has seen probably its biggest Bitcoin-related heist in history, as noted by the representatives of the local police office. Four thefts involving at least eleven people led to the disappearance of six hundred mining rigs.

Mining hardware is used to get new cryptocoins by solving special algorithms and if the algorithm is difficult (as in the case with Bitcoin), special circuits (ASICs) are needed. Each of these ASICs costs a considerable sum of money which explains the criminals’ motivation.

This country is attractive for miners due to its renewable sources of energy. In previous reports one could read about the reaction of authorities - even a member of an extremely liberal Pirate Party once noted that all mining benefits come only to miners without the country actually getting anything. However, he quickly had to correct himself in order not to infuriate avid cryptocurrency fans.

In a similar occasion in Bulgaria, miners found their hangar partly looted, but as the details acquired by the local media from the law enforcers of this country show, the miners’ security mismanagement was one of the reasons the criminals succeeded.