• Criminal

    New documents shine a light on Iceland’s ‘Bit Bitcoin Heist’

    7 convicted suspects will serve time for cocaine possession and a weird attempt at growing marijuana

    Our favorite Bitcoin story of all time seems to be closing as Iceland’s courts found ringleader Sindra Þór Stefánssyni guilty of stealing over 100 crypto mining rigs in Iceland. The incredible story—which at one point had Sindra breaking out of prison and fleeing the country on the same plane as the Prime Minister—now seems to have come to an end with him heading back to prison and no Bitcoin mining equipment recovered.

  • Cocaine Iceland
    Bitcoin,  Europe

    EXCLUSIVE: Burglaries, cocaine, stun guns, and other charges added in ‘Big Bitcoin Heist’

    This summer’s most insane true-crime caper gets even crazier

    Prosecutors and private attorneys have filed charges against seven individuals in Iceland in the ongoing investigation of the “Big Bitcoin Heist.” Modern Consensus has exclusively obtained signed documentation from the courthouse and consulted with Icelandic legal experts. What we found is astonishing. First, a quick recap: Police in Iceland have been putting together clues to a string of burglaries in Iceland centering around cryptocurrency mining components during the December 2017 bitcoin peak. In Iceland, more electricity is used in bitcoin mining than in all Icelandic homes combined. Over $2 million in equipment was reported stolen. Later, in a move straight out of a Hollywood thriller, prime suspect Sindri Thor Steffanson…

  • Reykjavik police

    EXCLUSIVE: Iceland releases Russian suspects in ‘Big Bitcoin Heist’

    Raids, arrests continue as police try to solve nation’s biggest crime in history

    Authorities in Iceland have quietly released two Russian men detained during the investigation of the biggest crime in that country’s history. Police are still on the lookout for $2 million in bitcoin mining equipment, including 600 servers, 600 graphics cards, and 100 motherboards stolen in a string of robberies over the last two months. It is being dubbed “the Big Bitcoin Heist,” though no cryptocurrency has gone missing in this process.   Early on Wednesday March 7, 2018 heavily armed police raided two buildings. Three men were detained at Grettisgata and four in Ægissíða on the western peninsula of the capital Reykjavik. All are Icelanders. Police sources said the arrests…