It seems as if the cryptoworld has experienced another tremor with this latest hack. The cryptocurrency mining marketplace, NiceHash, has reportedly been hacked.
Fourteen hours ago, the company announced that the NiceHash site was, “currently undergoing maintenance” and apologized for the inconvenience. They asked users to stay tuned for more updates, and this update seemed calm overall.
Then we saw the next update.
Eleven hours ago, the team at NiceHash provided an update that seemed to be less comforting.
“Dear NiceHash users,
we are very sorry for the inconvenience caused. Our team is working hard to resolve the issues on the service, it might take longer than expected. We’ll keep you updated!”
This tweet implied that things were still a little wonky, but they were trying their best to keep above water and not sink. But then we received more news that showed us that they did, indeed, sink.
We received an official press release from the organization, indicating that things were not headed in the right direction.
The press release, sent out through Reddit, notified users that the situation was not under control and turned somewhat dire. The team went into detail, talking about a security breach that involved the NiceHash website and they have stated that they are, “investigating the nature of the incident and are stopping all operations for the next 24 hours.”
What exactly went wrong?
It seems that there was a direct attack on their payment system, which was compromised, allowing a hacker to steal the contents of a NiceHash Bitcoin wallet. The company is still looking into exactly how much was taken from the bitcoin wallet. According to a wallet address that has been sent around by some of the site’s users, approximately 4,736.42 bitcoins may have been stolen.
What is the company doing?
They understand that this is a matter of great concern for many users on their site. They are working diligently to make this matter right over the course of the coming days. NiceHash isn’t going to stop and be comfortable with their own investigation, they are going to be working with the proper authorities on clearing up the incident and will be using the full extent of the law to do what needs to be done.
The company is committed to being able to bring the services of the site with higher security implementations as soon as they can.
They state :
“We would not exist without our devoted buyers and miners all around the globe. We understand that you will have a lot of questions, and we ask for patience and understanding while we investigate the causes and find the appropriate solutions for the future of the service. We will endeavour to update you at regular intervals.
While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords.”
They will be utilizing the various resources that they have at their disposal to solve this as soon as possible.
NiceHash, which was founded in 2014, facilitates the selling or buying of computing power (hashing power) in the form of Cloud Mining for the purpose of Bitcoin, Ethereum, Monero, Dash, Zcash, Litecoin and other (altcoins) cryptocurrency creation and transaction confirmation.