NiceHash hacked - All Bitcoin stolen

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NiceHash hacked - All Bitcoin stolen

In a warning for those who wish to invest in Bitcoins to make some big bucks, the cryptocurrency mining market NiceHash has revealed hackers wiped out its entire Bitcoin wallet, resulting in over $60 million loss. One of the executives said nearly $64 million has been lost, according to a Reuters report.

NiceHash initially sent out two tweets on Wednesday informing customers that its servers were down for "maintenance" and its team was working on a fix.

A steady stream of about 3,600 new bitcoins are created a day - with about 16.5 million now in circulation from a maximum limit of 21 million, BBC reported.

The company did not specify how much Bitcoin was stolen in the breach. I checked the transactions on a 3rd party website and my balance was zeroed out.

Founded in 2014, NiceHash allows users to buy and sell hashpower through its online marketplace. It has halted all services for the next 24 hours while it investigates, but thanks to the public blockchain, there's speculation that Nicehash may have lost upward of 4,700 BTC, presently worth more than $63 million Dollars.

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

The full extent of the hack is still unclear and the company has not provided any updates since they announced the hack.

Users that mined to an external wallet for an additional fee are out unpaid balances less than 0.01 BTC, but sadly users that mined to an internal wallet have potentially losts hundreds or thousands of mined bitcoin.

Slovenia-based NiceHash said in a statement posted on its website that it had halted operations for 24 hours as it investigated the breach.

Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. NiceHash says it will relaunch itself with improved security "at the earliest opportunity". The company has advised users to change online passwords, saying it was still trying to figure the details on the security breach, Reuters reported.

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