NiceHash diced up by hackers, thousands of Bitcoin pilfered

Lloyd Doyle
December 8, 2017

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.

NiceHash told Money that $70 million worth of bitcoin equals around 4,700 coins, adding that this was accomplished through a "professional attack". We are working to verify the precise number of BTC taken.

In addition to conducting an internal investigation, NiceHash said that they have reported the incident to "relevant authorities and law enforcement" and are "co-operating with them as a matter of urgency".

Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days.

NiceHash has asked all customers to change their wallet passwords as a precaution but Tyler Moffitt, Senior Threat Research Analyst at Webroot, believes that people who use NiceHash's services for mining cryptocurrency should always have payouts trigger at the smallest amount and that the firm should do more to secure the security around customer wallets.

"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". It also allows NiceHash users to purchase computer processing power from other users.

Previously, NiceHash had tweeted about maintenance-related downtime, but hours later it tweeted that the issues were taking longer than expected, possibly after learning that a malicious third party had accessed its system.

RT America looked into some of the users that claimed to have been affected by the hack and confirmed their money had been transferred to the mysterious bitcoin wallet address. However, the company later revealed that its servers had been compromised. This corporate security breach is being investigated by NiceHash and the proper authorities and will be dealt with urgently. As cryptocurrency continues to rise in value, you can bet plenty of thieves and hackers are going to continue to steal what they can. Last month, Tether suffered a data breach that saw the theft of $30m worth of tokens. We will endeavour to update you at regular intervals.

Other reports by Iphone Fresh

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