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Icelandic police still on search for the miners.


Iceland’s biggest Cryptocurrency scam has risen a lot of tension and police have set their pace in stretching over a tight investigation and a number of arrests.

As per reports previously stated, about 600 Bitcoin-mining computers have been stolen in four separate set of events. None of the stolen items have been recovered yet. Eleven suspects plus a security worker have been arrested for further this investigation called “Big Bitcoin Heist”.

The mining computers were worth $2 million and is by far the biggest scam in Iceland’s history. Olafur Kjartannson, who belongs to Reykjanes region, where two out of the four theft occurred, said that this massive scale theft was never before seen.

This highly organized crime has got a lot of attention and concern from global platforms since this theft has a pattern of intellectual guidance behind it. Iceland, a country which was proud of it’s mining ecosystem has now fallen in a loophole and lost resources. This has risen global attention as governments of major Crypto regulating countries are fearing this misuse of technology and a similar imprint on their own resources.

The investigation is still going on and police are still on its way to trace power and electricity usage and track down the location. By far no such news on the successful tracking of the locations by checking the maximum usage of electricity have been made public on the police’s part.

Previously, Politicians had  heated discussions regarding the implementation of taxes in Iceland’s mining operations. Targeting the mining culture of Iceland comes as no shock as the sector is surging upwards in it’s growth and has shown marks of a successful economic expansion through Cryptocurrencies.

According to reports, in 2016, 165 miners were stolen from US, Carolina and this theft of Iceland, with 600 miners missing, is by far one of the biggest theft encounters in history.


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