Almost $64 million in bitcoin is missing following NiceHash marketplace hack

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Cryptocurrency is flourishing– the rise and increase of bitcoin has been among the greatest stories of the latter part of 2017. Now, we have actually seen a peek of the more troubling side of the innovation, as an attack on a major mining market has led to almost $64 million worth of bitcoin being taken.

“Sadly, there has actually been a security breach including NiceHash website,” reads a statement posted by the business in response to the situation.”We are currently examining the nature of the event and, as a result, we are stopping all operations for the next 24 hours.”

NiceHash is a service that allows clients to exchange their hardware’s processing power for the purposes of verifying bitcoin hashes. When they desire to cash out, they are paid in bitcoin.The payment system utilized by NiceHash was reportedly jeopardized, which permitted burglars to drain the contents of its bitcoin wallet. The authorities have been notified and the business is dealing with its own investigation into precisely what took place, and the very best course of action.Approximately 4,700 bitcoins were stolen, according to the business’s head of marketing Andrej Škraba, who talked to The Guardian. Concerns were very first raised amongst users when the website started acting oddly, at which point NiceHash’s social media presence was the target for a bunch of queries and complaints.”We would not exist without our devoted buyers and miners all around the world,” read its action to the attack

.”We understand that you will have a lot of questions, and we request perseverance and understanding while we investigate the causes and discover the suitable solutions for the future of the service.”It’s simple to see why there’s so much excitement about cryptocurrency, but a circumstance like this shows what can fail. This isn’t really tried-and-tested facilities, and attacks can and will occur– as we saw with the high-profile Equifax hack, hidden vulnerabilities are all-too-common. This isn’t really to say that bitcoin or cryptocurrency are naturally dangerous or untrustworthy, but there is certainly a component of danger when it comes to using a service

like NiceHash.