Sci-tech

Cryptocurrency Miner NiceHash Hacked - $62 Million in Bitcoins Gone

Cryptocurrency Miner NiceHash Hacked - $62 Million in Bitcoins Gone

However, one bitcoin wallet gained more than $64 million within a matter of minutes. It lets customers people offer up their extra computer processing power for the high-energy calculations typically used to create - or mine - new bitcoin or other cybercurrencies.

"We are now investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours", said NiceHash.

The firm is recommending its customers change their passwords on both NiceHash and other services.

Two hours later, a user by the name of Erik Callesen posted an image showing an outgoing transaction he claimed he did not make.

Stock'S Earning Overview Coeur Mining, Inc. (CDE)
The Company has its mines located in the United States, Mexico, and Bolivia and exploration projects in Mexico and Argentina. The investor is now holding $6.64 million shares due in part to a decrease of 39623 new shares in their portfolio.

The Mount Gox hack in 2011 transferred nearly 10 times the bitcoins that NiceHash's security breach involved. Others say they can be helpful methods of payment, such as in crisis situations where national currencies have collapsed.

"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 in its statement. That prevents cheaters from spending the same digital coin twice. Mt. Gox shut down in February 2014, saying it lost about 850,000 bitcoins, possibly to hackers.

The full extent of the hack is still unclear and the company has not provided any updates since they announced the hack. CoinDesk revealed that the NiceHash wallet contained 4,736 BTC - about $60 million.

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". NiceHash says it will relaunch itself with improved security "at the earliest opportunity".


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