£52m in Bitcoin stolen after 'sophisticated' hack at mining website

Litecoin Chart

"The contents of the NiceHash Bitcoin wallet have been stolen".

Cryptocurrency website NiceHash said in a press release on Wednesday evening it has suffered a security breach that compromised its digital wallet, believed to be holding millions of dollars worth of bitcoins.

He said the company was co-operating with local authorities but declined to give more information.

The swings in price occurred as the trading community prepares for bitcoin to start trading on two established USA exchanges.

The Chicago Mercantile Exchange (CME), the world's largest exchange for futures and options on futures, will begin trading the bitcoin futures from the 18th.

That has increased the sense among some investors that bitcoin is gaining in mainstream legitimacy after several countries, like China, tried to stifle the virtual currency.

At 3:25 p.m. EST, bitcoin was valued at $15,930, according to Coinbase, after briefly surging above $19,000 Thursday morning.

Bitcoin climbed as much as 7.9% on Thursday as it surged above $14 000, extending this month's advance to more than 40%.

Bitfinex, a Hong Kong-based bitcoin exchange, was briefly shut down past year after hackers stole almost 120,000 bitcoins - worth more than $65 million at the time. Some say they serve merely to facilitate money laundering and illicit, anonymous payments.

Miners of bitcoins and other virtual currencies help keep the systems honest by having their computers keep a global running tally of transactions.

Online security is a vital concern for such dealings. Mt. Gox shut down in February 2014, saying it lost about 850,000 bitcoins, possibly to hackers.

Related:

Comments

Latest news

Starbucks offers Christmas Tree Frappuccino, for a limited time
Devoid of the edible ornaments, the drink just looks like a regular mocha Frappuccino with a faintly green whipped topping. Starbucks loves us so much it's released a new holiday-themed drink that looks like it tastes like heaven.

Auto hits pedestrians in lower Manhattan, NYPD says
Thursday when a Lincoln Town Car and Ford Explorer collided at Broadway and Liberty Street near Zuccotti Park. The driver of the Lincoln Town Car is being questioned as to why he continued after the first collision.

Zardari demands resignations of Shehbaz Sharif, Rana Sana after Tahirul Qadri meeting
The two sides held a meeting wherein Khurram Nawaz Gandapur, Manzoor Wattoo and Qamar Zaman Kaira were also in presence. Qadri and Asif Zardari - as the cleric is widely known for his past statements against the PPP leader.

Genie Bouchard has met her Twitter date for the second time
One was obviously the Patriots, who rallied from a 28-3 deficit and beat the Atlanta Falcons 34-28 in overtime. Bouchard posted Wednesday as she shared a picture with the lucky Patriots fan John Goehrke.

M&S launch stoneless avocados - and says they could prevent 'avocado hand'
The cocktail avocados are small elongated fruits , measuring around five to eight centimetres in length. The fruit develops without a seed which in turns stops the growth, giving a small, seedless fruit.

Other news