Iceland's Stolen Mining Farms May Be In China

Heist of 600 Bitcoin devices was one of the biggest crimes in modern history of Iceland
07 May 2018   1199

600 Bitcoin mining devices, stolen in Iceland, now may be in China, CoinDesk reports.

The police of Iceland sent a request to the Chinese authorities after they learned that they had confiscated 600 mining computers. The Tianjin police seized the devices after discovering an unusually high consumption of electricity in their territory.

The Chinese media then reported "the largest electricity theft in recent years," adding that 8 industrial fans were also confiscated. Attackers connected to the substation bypassing the counters, thus intending to avoid the need to pay for the energy they use to mine the cryptocurrency.

However, until the end it is not clear whether the devices confiscated in China, the attitude to the "big bitcoin-robbery" that occurred in Iceland. Earlier it became known that the devices were stolen during several episodes in December and January. Their exact location is still unknown.

The alleged organizer of the crime should be extradited to Iceland from the Netherlands, where he went, leaving prison on his own, after visiting Sweden.

South Korea to Allocate $880M for Tech Including DLT

The goal is to "focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy"
16 August 2018   128

In 2019, the government of South Korea plans to invest more than $ 880 million in accelerating the development of innovative technologies, such as blockchain, CoinDesk reports.

Deputy Prime Minister Kim Dong Yeon held a ministerial meeting to work out an investment plan for the government to develop innovations for the next five years.

According to the website of the Ministry of Economy and Finance of South Korea, the government allocated 1 trillion won (about 880 million dollars) - 80% more than in 2018 - for the development of technologies like blockchaain, big data and AI in 2019. In addition, the agency said that in the next 5 year total investments of 8-9 billion dollars are planed.

The goal is to "focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy," the press release said.

The investment plan does not specify how much money will be invested in each of these areas separately. There's no info wether it will be allocated to mining facilities.

Earlier, the Ministry of Information and Communication Technology of South Korea reported that in 2019 will allocate $ 9 million to invest in blockchain start-ups. In addition, in June it became known that the same ministry was cooperating with other state agencies on the development of six pilot programs, within which the block would be used in large government services.