Millions potentially lost after a bitcoin mining marketplace was hacked

Millions potentially lost after a bitcoin mining marketplace was hacked

Nicehash says it's working with authorities, but past Bitcoin thefts haven't generally ended well (RIP, MtGox and various other sites).

NiceHash is a cryptocurrency mining application that lends computer power to verify bitcoin users' transactions.

Hackers may have gotten away with $60 million worth of bitcoin after a cyber attack hit the cryptocurrency mining platform NiceHash. However, as this incident demonstrates, cloud mining services subject users to additional risks versus operating one's own hardware.

Many users are bemoaning the fact that they lost money while waiting to reach the minimum payout: 0.01 BTC for external wallets and 0.001 BTC for NiceHash wallet. The venture's main webpage showed a "maintenance" error message, linking to its social media accounts.

Although NiceHash has not confirmed the number of bitcoins stolen, NiceHash users have circulated a wallet address that suggests that 4,736.42 BTC - worth more than $62 million at the current exchange rate - was drained from the company's hot wallet. The company said it was halting operations for 24 hours and was now investigating the incident. We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity. The speculation fuelled by the fact that the majority owner of NiceHash is a company named H-Bit, owned by Martin Skorjanc, the father of Matjaz Skorjanc, convicted author of the Mariposa bot.

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We would not exist without our devoted buyers and miners all around the globe.

"While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords", NiceHash warned users. We understand that you will have a lot of questions, and we ask for patience and understanding while we investigate the causes and find the appropriate solutions for the future of the service.

"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", the company added.

ZDNet has contacted NiceHash and will update if we hear back.

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