Mining Service Nicehash Hacked, $60 Million in User Funds Stolen

Simon Dixon CEO

Slovenian cryptocurrency mining marketplace NiceHash said it lost almost $64 million in a hack of its payment system, the latest incident to highlight the risks that uneven oversight and security procedures pose to digital currencies such as bitcoin.

I might be enjoying the lovely Maui for Qualcomm and their Snapdragon Tech Summit in Hawaii, but I woke to news from my good friend and fellow miner Keith May from WCCFTech messaging me this morning that NiceHash had possibly been hacked. There's no way of getting it back if that's the case, and if that is indeed the case, there's no way NiceHash can restore money to miners' wallets.

Shortly thereafter, NiceHash announced that its service was undergoing maintenance.

"I think I got jacked and probably a lot of other folks?".

As Bitcoin blazes past $15,000 and achieves a market capitalization greater than that of Visa, Inc., news has just broken that a cryptocurrency mining service called NiceHash has had $70 million in Bitcoin stolen by hackers.

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Many other users responded to the company's maintenance tweet, saying that they had money stolen. The company confirmed the hack today, but did not release totals. "We are working to verify the precise number of BTC taken", the company said in a statement on Wednesday (6 December).

Suspected hackers stole more than $60 million in Bitcoin value from customers' Bitcoin wallets after compromising a payment system run by NiceHash.

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According to VPN logs, the hackers accessed NiceHash's system through a VPN login using one of its engineer's credentials.

'Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. Users were warned to change passwords. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency. NiceHash says it will relaunch itself with improved security "at the earliest opportunity".

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