Cryptocurrency Miner NiceHash Hacked - $62 Million in Bitcoins Gone

Mindy Sparks
December 7, 2017

In a recent press release cryptocurreny mining market Nicehash revealed that its payment service was hacked and its BTC payment wallet was emptied.

More than 4,500 bitcoins worth approximately $62 million at today's prices may have been stolen from the NiceHash exchange.

Posting on social media, NiceHash said that "there has been a security breach involving NiceHash website" resulting in a loss of funds. The amounts mined are held in trust by NiceHash with the company naturally taking its own cut of the transaction with users then being able to transfer bitcoin or other cryptocurrencies earned via the service to their own wallets. The company has paused operations for 24 hours while it figures out exactly how much was swiped and how it was taken.

Apparently, NiceHash's payment system was compromised and unfortunately, its Bitcoin wallet was raided. The company is now investigating the precise amount stolen, though estimates around the web put it north of $66 million Dollars worth of the popular cryptocurrency (at time of writing 1 BTC = ~$13970.50).

The company stated that, in addition to an internal investigation, they had contacted the "relevant authorities and law enforcement" and that they are working to "rectify the matter in the coming days".

Nicehash is further recommending that users of its internal wallets change all of their online passwords (especially any that were similar to the one they used on the site) as a precaution. We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity. "We will endeavour to update you at regular intervals". Users were warned to change passwords.

We are truly sorry for any inconvenience that this may have caused and are committing every resource towards solving this issue as soon as possible.

Other reports by Iphone Fresh

Discuss This Article