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   2226

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.

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   157

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.