In a series of thefts across the months of December 2017 to January 2018, Iceland saw one of the biggest heists
that the country has ever known. Approximately $2 million worth of equipment was stolen from data centers in the country over the course of time. Believed to be masterminded by Sindri Thor Stefansson, this was one of the biggest incidents of theft in the country which is fast becoming a haven for cryptocurrency mining
due the favorable natural conditions.
According to reports, the series of burglary resulted in the theft of over 600 PCs, 100 power supplies. 100 motherboards, 100 CPUs, 100 memory disks and 600 graphics cards from data centers, which are situated in the North Western and South Western part of the country from December 5th
of 2017 to January 16th
of 2018. This put the estimated value of the cryptocurrency
mining equipment close to $2,000,000 dollars.
From Iceland to Tianjin?
Considering the quantity of the mining equipment which was stolen from Icelandic data centers and then taking a look at a recent raid which was conducted by Chinese authorities in the city of Tianjin, there just might be a link between the two incidents.
While the suspects of the burglary have been caught since the incident, they are being uncooperative and the location of all the stolen equipment as of yet is unknown. The local news in Iceland reported that the cryptocurrency mining equipment which was confiscated in the city of Tianjin might very well be the same equipment which was stolen in the series of burglaries in Iceland.
of April saw local news outlet Xinhua News report that the city of Tianjin was subjected to the biggest power theft in recent times as Chinese authorities seized the 600 cryptocurrency mining computers from an illegal cryptocurrency mining farm. Other than the 600 cryptocurrency mining computers which were confiscated by the Chinese authorities, 8 high powered fans which were being used to cool down the massive cryptocurrency mining operation were also confiscated.
Its Speculation Until Proven
Until there comes such a time that it is proven that the cryptocurrency mining equipment confiscated in Tianjin is indeed the same equipment which was stolen over the course of a month and a half from data centers located in Iceland, it is very difficult to say for sure that the two incidents are definitely linked with one another.
The alleged mastermind behind the theft, Sindri Thor Stefansson had managed to escape the low security prison in Iceland and flee to Sweden but has since been recaptured in the Netherlands and is waiting to be extradited back to Iceland. There, he is expected to stand trial and the matter will come to a resolve. We are still waiting to see whether the Icelandic theft resulted in the formation of the closed down illegal cryptocurrency mining operation in Tianjin.
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