Thursday, 14 December, 2017

Bitcoin miner NiceHash reports hack, theft of its "wallet"

NiceHash website showing a maintenance message during security breach announcement Bitcoin Mining platform Nicehash Hacked - 56 Million USD In BTC reportedly gone
Preston Stone | 07 December, 2017, 12:55

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.

The kicker comes in the next paragraph, where they write that "importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen".

NiceHash is a service that allows users to register and rent or buy cryptocurrency mining/hashing power.

Almost $64m in bitcoin has been stolen by hackers who broke into Slovenian-based bitcoin mining marketplace NiceHash. However, as this incident demonstrates, cloud mining services subject users to additional risks versus operating one's own hardware. NiceHash previously announced that it was "under maintenance", a message that it had posted to its official website as well.

NiceHash head of marketing Andrej P. Škraba told Reuters on Thursday that the hack was "a highly professional attack with sophisticated social engineering" and that about 4,700 bitcoin, worth about $63.92 million at current prices, were lost.

Cinemark Joins Others in Movie Membership Offering
While Cinemark's rollover clause is unique, it's no where near what MoviePass is offering: unlimited movie tickets for $8/a month. Users only pay $9.95 a month, but MoviePass pays theaters the full value of each purchased ticket.

NiceHash says it reached out to "to the relevant authorities and law enforcement".

The NiceHash team urged users to change their online passwords as a result of the breach and subsequent theft.

NiceHash is a digital currency marketplace that matches people looking to sell processing time on their computers for so called miners to verify bitcoin users' transactions in exchange for the bitcoin.

"We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity", the trading platform added. We will endeavor to update you at regular intervals.

"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.

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