Hackers Execute $62 Million NiceHash Cryptocurrency Market Heist As Bitcoin Passes $13,000

When it comes to today's cryptocurrencies, it sometimes seems although we're operating in the Wild Wild West. Such is the case today with NiceHash, which is a cryptocurrency mining marketplace. Apparently, NiceHash's payment system was compromised and unfortunately, its Bitcoin wallet was raided.

NiceHash would only go so far as to state that it is "working to verify the precise number of BTC taken." However, according to NiceHash users attempting to track down the stolen loot, a wallet address was found with a total of 4,736.42 BTC. Given that Bitcoin is currently trading at over $13,000, that put the value of this heist in excess of $62 million. Yes, you heard that currently; Bitcoin jumped from $10,000 to over $13,000 in little over a week.


For its part, NiceHash has issued the following statement regarding the breach:

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

We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity.

While the NiceHash operators seem sincere with their statement, those words ring hollow for users that lost their accumulated BTC. "Makes NO sense. Has to be an inside job," wrote VRJon on NiceHash's subreddit. "If you ran a service like this you wouldn't keep all your BTC on the web server or any live server. You'd move just enough to handle the current outgoing payments and I would HOPE that if they all of a sudden saw all their users request to empty their wallets to one BTC address they'd go 'hmmmm'."

Needless to say, there are a lot of unhappy people today in the topsy-turvy world of cryptocurrencies, and there are 62 million reasons why. Perhaps warnings from people like Chase CEO Jamie Dimon should be heeded after all...