Economy

Hackers Execute $62 Million NiceHash Cryptocurrency Market Heist As Bitcoin Passes $13000

Hackers Execute $62 Million NiceHash Cryptocurrency Market Heist As Bitcoin Passes $13000”

Nicehash, a famous mining pool seems to have been hacked, according to online data, a good 56 million Dollars worth of BitCoin seems to have disappeared overnight.

NiceHash would only go so far as to state that it is "working to verify the precise number of BTC taken". Users mention that their wallets have been emptied and the bitcoins are now in a wallet that received 4736 bitcoins on Wednesday, currently, that entails a total value of 51 million euros, roughly 56 million United States dollars.

While NiceHash has yet to place an amount on how much is stolen, a Bitcoin wallet address highlighted by NiceHash users that appeared Wednesday and has received a large deposit out of nowhere contains 4,736.42 BTC, valued at about $62 million at current prices.

NiceHash allows crypto mining rig owners to sell their hashing power on a marketplace, which sees them earn Bitcoin at regular intervals.

After a 12-hour service outage for 'maintenance, ' Nicehash just announced that last night it fell victim to a security breach. 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. As such, it's temporarily suspended operations on its site, and is encouraging users on its platform to change their passwords immediately.

The full press release is available here.

This high-profile attack further illustrates the need to use safe bitcoin storage practices and to always hold your own private key in an offline wallet (hardware or paper or at least encrypted software wallet you control at a minimum) for long term storage of funds. "If you ran a service like this you wouldn't keep all your BTC on the web server or any live server".

What are your thoughts on this? Do you plan to venture forth and mine on your own?



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