Tech Talk

Cryptocurrency marketplace NiceHash loses USD64 million from Bitcoin theft

Cryptocurrency mining marketplace NiceHash has reported that nearly USD64 million worth of Bitcoin has been stolen from its digital wallet.

NiceHash said it lost 4,700 bitcoin through a “highly professional attack with sophisticated social engineering.” The company is currently cooperating with local authorities to investigate the breach.

Slovenia-based NiceHash is a digital marketplace that matches people looking to sell processing time on their computers in exchange for Bitcoin.

NiceHash had earlier posted an official statement acknowledging the breach, and that it had halted operation for 24 hours to investigate the matter.

“Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken. Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency.”

It advised users to change online passwords as a precaution.

Online security is a vital concern for cryptocurrency exchanges and digital wallets as they are increasingly becoming targets for hackers.

The price of BTC has surged to over USD14,000, a phenomenal rise from USD1,000 at the beginning of the year.

VIA Reuters

By Vernon

Vernon is the founder and chief editor of A graphic designer by profession, he has a deep love for technology, cars, gadgets, food, and travel. He tweets too much and is also known as a caffeine bacterium ("life's too short for bad coffee"). Bleeds Blue (go Chelsea FC!) and considers BMW, Porsche, Alfa Romeo cars to have in the garage--for true petrolheads, that is.