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Hackers Loot Over $60 Million In Bitcoins By Hacking NiceHash

NiceHash Hacked

Hackers hacked into the crypto mining service NiceHash and stole over $60 million from various users’ accounts. Account holders reported that their Bitcoins were transferred from their own internal wallet to a single wallet controlled by an unknown party.

Recently, the Bank of America was awarded a patent for exchange system of cryptocurrency. While this news of hacking has ruined the investors since it will be taken that the companies mining in the cryptocurrencies are mistrustful. According to the reports, the hack affected the payment system of NiceHash and the entire content of the company’s Bitcoin wallet was stolen. Later on, the company confirmed the news about the hack on their official Facebook page.

“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.”

As of yesterday, it is estimated that around 4,736 Bitcoins were stolen which are worth over $63 million. However, NiceHash has not confirmed the total amount of loss. NiceHash is generally known for mining alternate currencies to Bitcoins like Ethereum, Ripple. At the same time, the crypto mining firm enables the users to buy computer processing power from other NiceHash users.

The hack that the mining company suffered is one of the major hacks on any site dealing in cryptocurrency. Despite the fact that the technology behind Bitcoin, blockchain, is secure and trustworthy, startup companies are still struggling to secure and hackproof their websites from hackers.