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Suspect In Bitcoin Mining Equipment Heist Caught In Amsterdam

Last year was the biggest years for cryptocurrencies that has been seen so far in its almost decade long existence with different cryptocurrencies hitting their all time highs. That boom was at its peak in the December of 2017 and it was during that very successful run for cryptocurrencies across the board that people have been trying to take advantage of the price hike in any way they can.

Crypto Boom And Rise In Crime

Russia saw a group of nuclear scientists, who tried to make use of supercomputers that the Russian government owned in order to mine cryptocurrencies for their personal profit. England saw government websites being hacked in order to embed mining malware. The year was filled with such cases. One very notable case to be seen among the biggest crimes when it comes to cryptocurrencies and mining was the theft of mining equipment in Iceland that saw over an estimated $2 million worth of Bitcoin mining equipment to be stolen over the course of December of 2017 to the January of 2018.

$2 Million Heist

This heist saw over 600 computers being stolen over a course of two months from the many data centers based in Iceland by a group of individuals. The goal for this extensive heist was so that the thieves could set themselves up a proper mining operation. This was a very big criminal incident in Iceland. In fact, the press in Iceland referred to this theft of Bitcoin mining equipment as one of the biggest that has ever happened in Icelandic history.

Suspect Flew Out Of The Country

One of the suspects, Sindri Thor Stefansson, is believed to be the mastermind behind the $2 million theft. Tuesday saw him just leave the low security prison and take a flight to go to Sweden. He made the claim in a letter sent to Icelandic newspaper Frettabladid that he was held by the police without any proof for months before he managed to escape.

He also claimed that legally he was allowed to leave the country when he boarded the flight to Sweden since the order of his detention had expired and the judge required 24 hours to renew the custody. He says that because of the fact that he was legally in the right to leave, he would not deign it fit to stay in prison of his own free will and made the escape.

 Caught In Amsterdam

Sunday night saw Stefansson get arrested in Amsterdam according to the police spokesman Rob van der Veen. The police did not provide further information about the arrest but the spokesman did mention that the authorities are now looking to take up the matter of Stefansson’s extradition back to Iceland.

The alleged mastermind behind the $2 million Bitcoin mining equipment theft did mention that he did not intend to stay out of the country for very long and that he would in fact return home. It just does not seem like he’s returning on his own terms exactly. He has also told reporters that he will challenge the custody he was kept in without evidence and take the matter up at the European Court of Human Rights. It remains to be seen how the matter unfolds.

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