Hackers May Have Stolen Millions Of Dollars In Bitcoin

DDoS for Bitcoin attack

DDoS for Bitcoin attack

Suspected hackers stole more than $60 million in Bitcoin value from customers' Bitcoin wallets after compromising a payment system run by NiceHash.

The announcement came after hours of speculation sparked by the service being unavailable for the better part of Wednesday. The company confirmed the hack today, but did not release totals.

NiceHash has temporarily ceased operations following a security breach in which a criminal gained unauthorized access to its Bitcoin wallet.

"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.

More than 4,500 bitcoins worth approximately $62 million at today's prices may have been stolen from the NiceHash exchange.

'It doesn't take much for mining pool operators to keep these types of wallets secure. We are working to verify the precise number of BTC taken.

Online security is a vital concern for cryptocurrency marketplaces and exchanges, with bitcoins contained within digital wallets that have increasingly become a target for hackers as the number of bitcoins stored and their value has skyrocketed over the past year. NiceHash is a fantastic way for those who use just their personal computers or small mining farms to still get consistent payments by pooling together their hashing power.

The company has advised users to change online passwords, saying it was still trying to figure the details on the security breach, Reuters reported.

Think Markets analyst Naeem Aslam on the other hand believed that such a bust was not in the offing any time soon and suggested that Bitcoin might even rise as high as $25,000 in early 2018 as major markets start trading futures of the asset. It is now working with the relevant authorities and law enforcement "as a matter of urgency" to investigate the breach. 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.

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