Bitcoin Exchange NiceHash Hacked And $64 Million Stolen


NiceHash users took to Reddit to discuss the breach and speculate on whether this heist was an inside job.

The hack appears to have affected the money stored locally, on the NiceHash network.

While NiceHash investigates the incident its services have been taken offline for the next 24 hours.

CoinDesk, a site specializing in cryptocurrency news and data, reported that NiceHash users were circulating a link to a bitcoin account that suggested as many as 4,736 bitcoins had been stolen, an amount worth roughly$71 million at current prices. NiceHash previously announced that it was "under maintenance", a message that it had posted to its official website as well. Below is NiceHash's full statement.

Posting on social media, NiceHash said that "there has been a security breach involving NiceHash website" resulting in a loss of funds.

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Cryptocurrency marketplace NiceHash said the contents of its bitcoin wallet had been stolen in a security breach and one executive said almost $64 million had been lost. Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days.

The marketplace suspended operations on Thursday while it investigated the breach, saying it was working with law enforcement as "a matter of urgency" while urging users to change their passwords.

We would not exist without our devoted buyers and miners all around the globe. Your press release said nothing about sending us what you owe. "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 statement added.

NiceHash has asked all customers to change their wallet passwords as a precaution but Tyler Moffitt, Senior Threat Research Analyst at Webroot, believes that people who use NiceHash's services for mining cryptocurrency should always have payouts trigger at the smallest amount and that the firm should do more to secure the security around customer wallets.