The “Big Bitcoin Heist”: A First For Iceland And The Cryptocurrency

11 arrests have been made in Iceland for the theft of some 600 bitcoin “mining” computers, what’s being called the “Big Bitcoin Heist.” The computers alone are worth around $2 million and have yet to be found. The real trouble comes if the thieves utilized the hardware to mine bitcoin, allowing them to potentially turn endless profit without the possibility of being traced.

The heist took place over four burglaries and Icelandic authorities say it’s the biggest series of such thefts in the nation’s history. Investigators also say the evidence all points to the involvement of organized crime.

Bitcoin itself is notorious for volatility and massive fluctuations in price, speeding from $20,000 per coin last year to less than half that in a month. Now the currency has stabilized around $11,000. The ability to make millions quickly has pushed some individuals to become professional thieves, it seems.

For now, Icelandic authorities have put out the call for consumers, ISPs, electricians, and storage rental owners to pay close attention to their internet usage. If they see a recent spike, they may be uniwittingly powering an illegal bitcoin mining operation.

Follow us on social media for the latest updates in B2B!

Image

Latest

Sarah Dawn talks PayPal Business
Transform Your Payment Processes with PayPal Business Tools
June 23, 2025

Tired of complicated payment systems? Discover how PayPal is simplifying invoicing and payment experiences for small business owners like Sarah Dawn of Swell Little Donuts. See how innovation meets reliability with PayPal’s tailored solutions. Why PayPal Matters Now In an era where seamless transactions can make or break a business, PayPal offers accessible…

Read More
leadership resilience
Rewriting the Odds: Leadership Resilience at the Heart of Norberto Orellana’s Rise
June 23, 2025

Economic mobility is often portrayed as a straight climb. In reality, it’s shaped by adversity, identity, and access to opportunity. As research from the University of Michigan notes, mobility requires not only income, education, and employment, but also more intangible resources such as social inclusion and power—the ability to make choices and exert influence….

Read More
revenue growth strategy
Aligning People, Process, and Innovation Creates a Revenue Growth Strategy Built for Long-Term Impact—Not Just Quick Wins in High Trust Industries
June 20, 2025

Law enforcement agencies are under growing pressure to investigate faster, operate smarter, and serve increasingly complex communities. Yet many still rely on legacy systems that slow progress. Private sector partners are stepping in, offering tools that bridge this divide using a focused revenue growth strategy that balances speed, trust, and long-term impact. A recent…

Read More
human-centered
How Human-Centered Design Led to a Startup Accelerator for Education: A Conversation with Transcend Network’s Co-founder Michael Narea
June 20, 2025

The convergence of human-centered design and education innovation is reshaping how edtech ventures emerge and scale. As AI enables hyper-efficiency and bootstrapped entrepreneurship becomes more viable, the real differentiator is empathy—founders who listen deeply to users before building solutions. A McKinsey study of 300 public companies found that design-led organizations significantly outperformed their peers, with…

Read More