Tags:

Bitcoin Mining Marketplace NiceHash Hacked, Users Advised To Change Password

By Kachi Ojieh Thursday, December 07, 2017
bitcoin-btc
Featured image credit: Shutterstock

NiceHash, a cryptocurrency mining marketplace formed in 2014 has been hacked, losing at least $62 million after the incident.

This doesn’t come as a surprise since the price of Bitcoin continues to soar, crossing the $14,000 mark for the first time; cyberattackers are looking to cash out some dollars by taking advantage of the booming cryptocurrency industry.

Banks and financial institutions have since forewarned that the instability of Bitcoin and other cryptocurrency makes it a risk for investors to put in their money, however, the attackers are not slowing down anytime soon because the Bitcoin marketplace possibly provides a quick strategy to get rich – to the detriment of the investors.

An official press release statement by NiceHash reads:

"Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours."

"Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken. Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. 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."

The exact amount stolen by the hackers wasn’t disclosed, a wallet address circulated by NiceHash users suggest that as many as 4,736.42 BTC – an amount worth more than $62 million at current prices.

To avoid further loss, NiceHash team urged users to change their online passwords.

"While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords," they wrote in the statement.

We will keep you updated for more stories on this. Now, over to you. What do you think about NiceHash?
bitcoin-btc
Featured image credit: Shutterstock

NiceHash, a cryptocurrency mining marketplace formed in 2014 has been hacked, losing at least $62 million after the incident.

This doesn’t come as a surprise since the price of Bitcoin continues to soar, crossing the $14,000 mark for the first time; cyberattackers are looking to cash out some dollars by taking advantage of the booming cryptocurrency industry.

Banks and financial institutions have since forewarned that the instability of Bitcoin and other cryptocurrency makes it a risk for investors to put in their money, however, the attackers are not slowing down anytime soon because the Bitcoin marketplace possibly provides a quick strategy to get rich – to the detriment of the investors.

An official press release statement by NiceHash reads:

"Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours."

"Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken. Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. 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."

The exact amount stolen by the hackers wasn’t disclosed, a wallet address circulated by NiceHash users suggest that as many as 4,736.42 BTC – an amount worth more than $62 million at current prices.

To avoid further loss, NiceHash team urged users to change their online passwords.

"While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords," they wrote in the statement.

We will keep you updated for more stories on this. Now, over to you. What do you think about NiceHash?

Post Tags:

Kachi Ojieh
Kachi Ojieh

"Tech Is Before Anything Else since 2017". Kachi Ojieh is the CEO and Founder of Tech Is Bae. An enthusiastic blogger with the heart to unify all tech lovers across the globe. Currently working to make sure readers keep coming back for more.

No Comment to " Bitcoin Mining Marketplace NiceHash Hacked, Users Advised To Change Password "