Bitcoins stolen after cryptocurrency site NiceHash hacked

Lloyd Doyle
December 7, 2017

NiceHash said it will stop operating for 24 hours while it verifies how many bitcoins were taken.

At the time of writing, Bitcoin is just $25 away from breaking the $15,000 milestone.

Unfortunately, there has been a security breach involving NiceHash website.

While the company hasn't revealed the exact amount that was in the wallet, customers have been circulating a recently created wallet address containing 4736 bitcoins. According to Coindesk, bitcoin was trading at $14,855.60 at 7:50 a.m. ET, retreating a bit after topping $15,000 earlier. A group of banks came out and complained that federal regulators approved bitcoin futures, which begin trading on Sunday, too quickly and without properly considering the inherent risks in the virtual currency.

Some reports suggested that as much as $60m-worth of Bitcoins were stolen in the heist, but the site said it was still working to establish just how much had been thieved.

"The incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency", it said.

The Chicago Mercantile Exchange (CME), the world's largest exchange for futures and options on futures, will begin trading the bitcoin futures from the 18th.

The virtual currency has drawn the attention of scores of investors after gaining over 1400 percent year-to-date and hitting its all-time high of over United States dollars 15,000.

Bitcoin's rapid rise this year has been powered in part by expectations that established fund managers are set to start pouring money into the virtual currency as it gains legitimacy. They are basically lines of computer code that are digitally signed each time they are traded. Some say they serve merely to facilitate money laundering and illicit, anonymous payments.

Slovenian police are investigating the case together with authorities in other states, spokesman Bostjan Lindav said, without providing details. The digital coins are stored in a digital wallet or on the cloud and can be used in transactions.

Online security is a vital concern for such dealings. Mt. Gox shut down in February 2014, saying it lost about 850,000 bitcoins, possibly to hackers.

Other reports by Iphone Fresh

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