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Largest Cryptocurrency Mining Market NiceHash Hacked

  • 6 December 2017
  • 1 reply
  • 899 views
Jasper_The_Rasper
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Userlevel 7
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6th December 2017  By Catalin Cimpanu
 


 
In a statement published on social media, NiceHash, a crypto-mining marketplace, said hackers breached its site and stole all the Bitcoin from its main wallet.
 
NiceHash is a service that allows users to register and rent or buy cryptocurrency mining/hashing power. Users can rent their own mining equipment (cloud computing servers) or they can rent mining equipment (cloud computing servers) from others, splitting profits.
 
Users can send earned currency in an external wallet, or they can store it in local "secure and insured BitGo Bitcoin deposit wallets" (as described on the NiceHash homepage).
 
Full Article.

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Userlevel 7
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@, who has recently been talking about the rise of cryptocurrencies on the community here and here, had this to say about the NiceHash hack:
 
“This is devastating news for those in the mining community. 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. This hack is a lesson for the community to ensure that when mining for a pool, to always have payouts trigger at the smallest amount. Even though there are fees associated with using the minimum payout, having the amount sit in the mining pools wallet is risky. It doesn’t take much for mining pool operators to keep these types of wallets secure. If you don’t, this is what can happen. It will be a huge uphill battle for NiceHash to overcome this breach as it's very damaging to its brand.”

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