6 days ago

Largest Crypto-Mining Exchange Hacked; Over $70 Million in Bitcoin Stolen


Bitcoin is actually breaking every record—after gaining 20% jump last week, Bitcoin cost just crossed the $14,800 mark in less than 24 hours—in addition to there can be no better reason for hackers to put all of their efforts to steal skyrocketing cryptocurrency.

NiceHash, the largest Bitcoin mining marketplace, has been hacked, which resulted inside theft of more than 4,700 Bitcoins worth over $57 million (at the time of breach).

in addition to guess what? You’ll be surprised to know which the stolen BTC today worth over $70 million—in less than 24 hours.

Founded in 2014, NiceHash is actually a cloud-based crypto-mining marketplace which connects people through all over the earth to rent out their spare computing power to some other in order to create brand new coins.

On Wednesday, several NiceHash users reported which their BTC wallets had been emptied, which was later confirmed by NiceHash after its service went offline claiming to be undergoing maintenance.

At the time of writing, the NiceHash service is actually still offline using a post on its website, confirming which “there has been a security breach involving NiceHash website,” in addition to which hackers stole the contents of the NiceHash Bitcoin wallet.


The company did not provide any further details about the security incident, nevertheless the idea did say which NiceHash has paused its operations for next 24 hours while the idea figures out exactly how many numbers of BTC were swiped through its website in addition to how the idea was taken.

Although NiceHash has not confirmed the number of bitcoins stolen through its virtual wallet, some of its customers have circulated a wallet address which suggests around 4,736 BTC—worth more than $70 million based on today’s cost—in total were drained through the company’s wallet.

NiceHash has initiated an investigation into the matter, in addition to has reported the incident to the “relevant authorities in addition to law enforcement” in addition to has been “co-operating with them as a matter of urgency.”

The company also assured its customers which the idea is actually “fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity,” nevertheless the idea’s still unclear how the company will manage to settle everything if the idea is actually unable to compensate the total loss.

“We understand which you will have a lot of questions, in addition to we ask for patience in addition to understanding while we investigate the causes in addition to find the appropriate solutions for the future of the service. We will endeavor to update you at regular intervals,” the company says.

Following the security incident, NiceHash is actually recommending its customers to change their passwords—both on NiceHash in addition to some other services, if they are using the same credentials.

NiceHash is actually the latest cryptocurrency company to suffer a significant blow in recent months. Another major hack took place last month due to a flaw in Parity’s wallet which caused over $160 million in ETH (Ether) to be frozen, while nearly $32 million in ETH was stolen by hackers in July.

Article Categories:
Security Hacks

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