NiceHash Virtual Wallet Hacked – $66 M Stolen

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While many bitcoin investors are basking in record valuations, some are coming to grips with an astounding loss.

Cryptocurrency market NiceHash said Wednesday that hackers stole the contents of its virtual wallet, making off with digital currency reportedly worth more $60 million. The violation was announced the same day Bitcoin rose 18.2 percent to cross over the $13,000- and then $14,000-per-coin trading milestones for the first time.

NiceHash, a market for cloud-based mining of cryptocurrencies, created its statement following an hours-long outage attributed to “upkeep” and reports from NiceHash users that their wallets were emptied. NiceHash paused surgeries for 24 hours to determine just how many bitcoins were stolen and the way. But a Coindesk report suggests the wallet contained 4,736 bitcoins, worth roughly $66 million in current rates.

“This Is a matter of profound concern and we are working hard to rectify the issue in the forthcoming days,” the Slovenia-based NiceHash said in a statement. “In addition to undertaking our own investigation, the incident was reported to the applicable government and law enforcement and we are co-operating with them as a matter of urgency.”

Meanwhile, NiceHash is advocating users change their passwords.

Bitcoin has proved popular with currency dealers, going to a massive bull run in 2017. On Jan. 1 this year, bitcoin was priced at only under $1,000. On Wednesday, the money climbed $2,170 to $14,095 before settling to $13,696 as of the writing and giving it a market capitalization of $231 billion.

This isn’t the first time a bitcoin pocket has dropped Victim to safety shortfalls. Among the most well-known security lapses resulted in bitcoin exchange Mt. Gox filing for bankruptcy in 2014 after dropping almost 850,000 clients and exchange bitcoins.

That said, Wednesday those hackers stole the contents of its virtual wallet, making off with digital currency reportedly worth more $60 million. The violation was announced the same day Bitcoin rose 18.2 percent to cross over the $13,000- and then $14,000-per-coin trading milestones for the first time.

NiceHash, a market for Cloud-based mining of cryptocurrencies, created its statement following an hours-long outage attributed to “upkeep” and reports from NiceHash users that their wallets were emptied. NiceHash paused surgeries for 24 hours to determine just how many bitcoins were stolen and the way. But a Coindesk report suggests the wallet contained 4,736 bitcoins, worth roughly $66 million in current rates.

“This iss a matter of profound concern and we are working hard to rectify the issue in the forthcoming days,” the Slovenia-based NiceHash said in a statement. “In addition to undertaking our own investigation, the incident was reported to the applicable government and law enforcement and we are co-operating with them as a matter of urgency.”

Meanwhile, NiceHash is advocating users change their passwords.

Bitcoin has proved popular with currency dealers, going to a massive bull run in 2017. On Jan. 1 this year, bitcoin was priced at only under $1,000. On Wednesday, the money climbed $2,170 to $14,095 before settling to $13,696 as of the writing and giving it a market capitalization of $231 billion.

This isn’t the first time a bitcoin pocket has dropped victim to safety shortfalls. Among the most well-known security lapses resulted in bitcoin exchange Mt. Gox filing for bankruptcy in 2014 after dropping almost 850,000 clients and exchange bitcoins.