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Nicehash mining service hacked, $ 60 million in user funds stolen

Well, the price of the popular Bitcoin cryptocurrency has seen massive growth this year. But, according to NiceHash reports, it specializes in mining crypto-coins, the company claims to have been hacked and $ 63 million in user funds stolen.

Nicehash mining service hacked, $ 60 million in user funds stolen

With Bitcoin rising in value every day – the latest update realizes that digital currency has crossed the $ 16,000 mark – it is evident that criminals’ sense of desirability is heightened. NiceHash appears to have been the latest victim: it specializes in mining crypto-coins, the company claims to have been hacked. The loss may have increased from $ 63 million.

In a statement posted on his website and on social networks, NiceHash explains that the hackers were able to do it, through a flaw in their payment system, to completely empty the company’s digital wallet.

What is Bitcoin?

We can refer in generic terms that it is a virtual currency created in 2009, based on the peer-to-peer (P2P) system. P2P is a system that does not provide a centralized authority to control currency or transactions, as with other currencies (e.g. INR is controlled by RBI). Instead, currency creation and transfers are based on an open-source network in encrypted protocols that form the basis of Bitcoin’s security and freedom, making transactions instant among users.

The invention of a mysterious computer guru, who referred to his pseudonym Satoshi Nakamoto, this piece is created using a very complex mathematical formula.

It was not reported how much bitcoin was taken from it, but customers believe the wallet had 4,736 units of cryptocurrency. The suspicion comes from a wallet with this amount which suddenly appeared in the last few hours. Based on the rating from the day before yesterday (6), this figure corresponds to at least US $ 63 million; If we use the most recent quote, the damage easily increases to $ 70 million.

Some suspicion also falls on NiceHash itself because, so far, the company has not explained how the attack happened, nor responded to press contacts. On the social network’s giant Facebook service page, you can even find customers asking for evidence of the invasion. In the statement, NiceHash only states that it is conducting its own investigation and has already reported the incident to authorities.

The diamond wasn’t just bigger because many NiceHash customers don’t leave their digital coin earnings in the service portfolio. Basically, NiceHash serves as a platform for users to use their computers for mining crypto coins. Many of them either transfer the winnings to their own wallets or trade them. Others, however, choose to accumulate the amounts in the NiceHash wallet for a while. So these users are the most affected.

NiceHash also decided to cripple its platform for at least 24 hours, it said, just to investigate the attack.

Moreover, we are all well aware that more and more BitCoin is on the agenda, either by the constant rise and recording of the value registered by this crypto coin, or by its abrupt instability. In addition to these subjects, there are several that revolve around the play.

As Bitcoin continues its march to become “conventional” and in common use, it turns out that its price increase is not the only thing that experiences a sudden increase. There is new research to note that popular crypto now consumes more electricity than more than 20 countries in Europe, therefore, we should take this fact into account as well.

So what do you think of this massive invasion or hack? Just share all of your opinions and thoughts in the comments section below.