Index: /trunk/src/VBox/Devices/Network/DevE1000.cpp
===================================================================
--- /trunk/src/VBox/Devices/Network/DevE1000.cpp	(revision 37626)
+++ /trunk/src/VBox/Devices/Network/DevE1000.cpp	(revision 37627)
@@ -2856,4 +2856,12 @@
     E1KSTATE *pState = (E1KSTATE *)pvUser;
 
+    /*
+     * This can happen if we set the link status to down when the Link up timer was
+     * already armed (shortly after e1kLoadDone() or when the cable was disconnected
+     * and connect+disconnect the cable very quick.
+     */
+    if (!pState->fCableConnected)
+        return;
+
     if (RT_LIKELY(e1kMutexAcquire(pState, VERR_SEM_BUSY, RT_SRC_POS) == VINF_SUCCESS))
     {