How NiceHash was hacked and its Bitcoin stolen

NATION-NOW     Bitcoin breaks above $12,000 for the first time     
       Bitcoin breaks above $12,000 for the first time

A Slovenian cryptocurrency mining marketplace, NiceHash, said it lost about $64 million worth of bitcoin in a hack of its payment system, the latest incident to highlight risks that uneven oversight and security pose to booming digital currencies.

Last week, I wrote about NiceHash in relation to its simplicity to get into mining Bitcoin. The NiceHash website displays that "Service Unavailable".

Many other users responded to the company's maintenance tweet, saying that they had money stolen.

The company specialises in mining bitcoins for its customers and according to the Chicago Tribune, roughly 4,700 bitcoins were stolen from a wallet address used by NiceHash users.

As Bitcoin blazes past $15,000 and achieves a market capitalization greater than that of Visa, Inc., news has just broken that a cryptocurrency mining service called NiceHash has had $70 million in Bitcoin stolen by hackers.

Update: NiceHash has officially announced they were indeed hacked, with all of the BTC in their wallet gone.

"Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days", the announcement said.

The wallet now has a balance of 4,736.42 bitcoin, worth $64,080,393.

While not confirmed in any way to be related to the Bitcoin theft, information has surfaced on Reddit through user /u/YadaBadaDoo that NiceHash's founder and CTO, Matjaz Skorjanc, is himself a convicted criminal, having been convicted in 2013 of having created the Mariposa botnet, assisting others in "wrongdoings" and money laundering.

In addition to conducting an internal investigation, NiceHash said that they have reported the incident to "relevant authorities and law enforcement" and are "co-operating with them as a matter of urgency". We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity, ' it added.

"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", the company said, advising users to change their online passwords as a precaution.

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