Economy

NiceHash diced up by hackers, thousands of Bitcoin pilfered

NiceHash diced up by hackers, thousands of Bitcoin pilfered

In a statement published on social media, NiceHash, a crypto-mining marketplace, said hackers breached its site and stole all the Bitcoin from its main wallet. 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). However, a BTC address shared by a NiceHash user on Reddit suggests that a sum of 4,736 BTC ($67m, £50m at current rates) was stolen, CoinDesk reported. It also allows NiceHash users to purchase computer processing power from other users. This way, users can benefit from bitcoin mining without purchasing or operating the equipment themselves.

Users that mined to an external wallet for an additional fee are out unpaid balances less than 0.01 BTC, but sadly users that mined to an internal wallet have potentially losts hundreds or thousands of mined bitcoin. It's halting operations for 24 hours, it said.

The news was confirmed by NiceHash after the service went offline claiming to be undergoing maintenance.

"This is a matter of deep concern and we are working hard to rectify the matter in the coming days", the Slovenia-based NiceHash said in a statement.

More news: Stocks in Motion: Advanced Micro Devices, Inc. (AMD), General Electric Company (GE)

The company added that it was "fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity", but having experienced such a significant blow, how it will manage to return to trading without the ability to provide funds to those using its service is not clear at this point.

NiceHash advised users to change online passwords, saying it was still trying to understand what had happened during the incident.

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.


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