From Iceland — Bitcoin bandits sentenced to jail

Bitcoin bandits sentenced to jail

Published January 19, 2019

Valur Grettisson

The bitcoin bandits were sentenced to jail on Thursday. The most famous of them, Sindri Þór Stefánsson, was handed a to 4-and-a-half-year sentence for stealing 350 computers used solely to mine the cryptocurrency, Bitcoin.

The value of the computers, and the parts stolen with them, was around 100 million ISK, just shy of US$1 million.

Sindri Þór gained notoriety when he fled jail and the country last year and was even interviewed by the New York Times, where he tried to explain his position.

The Reykjavík Grapevine wrote a story about the incredible escape, during which he travelled on the same flight as the prime minister of Iceland.

All in all, seven men were sentenced for the heist, with Sindri Þór receiving the heaviest sentence. The computers were never found and the men were sentenced to pay Advania, the company that owned the computers, 33 million ISK in damages.

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