NiceHash Hacked, Over $70 Million Worth of Bitcoin Stolen

NiceHash Hacked, Over $70 Million Worth of Bitcoin Stolen

Information, Technology No Comments on NiceHash Hacked, Over $70 Million Worth of Bitcoin Stolen

NiceHash Hacked for Over $70 million worth of Bitcoin

As the price of Bitcoin and other cryptocurrencies continue to grow, more and more people from all walks of life are taking more interest.

Right after the news of Bitcoin breaking another price record yesterday was announced, we learned that the Slovenian cryptocurrency mining company, NiceHash was hacked.

It is estimated that the hackers had got away with 4700 bitcoins, which has a value of over $70 million dollars.

On their Facebook page, NiceHash announced the security breach, saying that they are looking into the matter and that they would not be operating for 24 hours until they get some more infomation on the hack.

In addition, NiceHash has recommended that users change their online passwords as a precaution, which should be a no-brainer. I am not sure if NiceHash uses a 2 factor authentication system like Coinbase does, but that might have helped a bit.

We obviously have less info than NiceHash on the hack that took place, but if it was a matter of someone hacking a users password and then transferring the bitcoins, then that could’ve been stopped or slowed down with a 2-factor authentication system.

This would make it harder for the hackers as they would not only have to get the users password, but they would have to have access to the users cell phone as well, in order to receive a confirmation code before they could actually log into the system.

Then again, that is neither nor there or here now, because unfortunatly the hack on NiceHash has already occurred.

The Wall Street Journal reported that Andrej P. Škraba, who is the head of marketing at NiceHash, confirmed that approximately 4,700 bitcoin, worth over $70 million, were missing from NiceHash’s bitcoin wallet. Škraba also told the Journal that “it was a professional attack,” but would not give any more information.

In addition, NiceHash also said that their payment system was also compromised following the hack.

“We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity,” the company said in it’s post.

Now, all that the companies users can do is wait it out to see what happens after the company looks into the matter further.

If you are interested in getting started in cryptocurrency world, you can get started by clicking HERE. If you spend over $100 on any of the 3 cryptocurrencies (Bitcoin, Ethereum or Litecoin), Coinbase will give you $10 worth of Bitcoin for FREE.

Leave a comment


Back to Top