$62 Million Gone? Cryptocurrency Mining Market NiceHash Hacked

$62 Million Gone? Cryptocurrency Mining Market NiceHash Hacked

NiceHash, touted as the one of the world's largest cryptocurrency mining marketplaces, said hackers had compromised its payment system and emptied its entire virtual Bitcoin wallet.

"We are working to verify the precise number of BTC taken", the company said on Wednesday in a statement on its Facebook page. 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 Dollars.

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.

I talked yesterday about the potential for GPU prices to go up, as even though Bitcoin can't be (effectively) mined with graphics cards, there are hundreds of alternative cryptocurrencies that can be, and services like Nicehash allow people to lease hashing power on their GPUs and get paid directly in Bitcoin. While the company did not reveal the exact amount lost, users on Reddit spent the better part of today anxious as the service was initially "under maintenance" for 12 hours amidst suspicious transactions on the blockchain that saw 4,736.42 BTC taken from Nicehash and their Nicehash internal wallets reporting zero balances.

NiceHash has urged users to change all online passwords as a precaution.

"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", the company said in its statement.

The full press release is available here. The company confirmed the hack today, but did not release totals.

As miners' Bitcoin payments are made regularly, only the current amounts owed by NiceHash to miners may be affected by the hack. Did you have money in a Nicehash wallet or unpaid mining balance?

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