Iceland’s Missing Bitcoin Miners May Have Been Found in China

Iceland’s Missing Bitcoin Miners May Have Been Found in China

News
May 7, 2018 by Henrik Bliss
1825
The 600 Stolen mining devices from Icelandic heist is suspected to be in China, local media outlet RUV reported last week. The Icelandic police sent an inquiry to the Chinese authorities after the latter reportedly confiscated 600 mining devices. The Tianjin police seized the devices after discovering an unusually high consumption of electricity in their territory.
Iceland’s Missing Bitcoin Miners May Have Been Found in China

The 600 Stolen mining devices from Icelandic heist is suspected to be in China, local media outlet RUV reported last week.

The Icelandic police sent an inquiry to the Chinese authorities after the latter reportedly confiscated 600 mining devices. The Tianjin police seized the devices after discovering an unusually high consumption of electricity in their territory.

In Tianjin, it was precisely a pattern of highly irregular electricity usage that is reported to have attracted the attention of a local grid operator, leading to the authorities’ confiscation of the suspect mining hardware including 8 industrial fans. Attackers connected to the substation bypassing the counters, thus intending to avoid the need to pay for the energy they use to mine the cryptocurrency.

However, it is still unclear whether the devices confiscated in China are in any way related to the missing devices from the “big bitcoin heist” that occurred in Iceland. Chinese police have not yet responded to the Icelandic inquiry, according to RUV.

The alleged mastermind behind the thefts is set to be extradited to Iceland from the Netherlands, where he was arrested after breaking out of prison and fleeing to Sweden.

 

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