Sunday, July 14

Hackers Steal $79 Million In Bitcoin From Crypto Marketplace NiceHash

Another Bitcoin security breach costed $79 million to a cryptocurrency exchange site NiceHash.

NiceHash posted the theft on Facebook:

In the breach, $79 million worth of bitcoin was stolen by hackers from NiceHash’s servers, in a scenario where Bitcoin reaches to almost $16,800.

“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,” NiceHash said in the post.

Andrej Škraba, marketing head of NiceHash told WSJ that 4,700 bitcoins were stolen from the company’s Bitcoin wallet. The hackers hacked the account in a single swipe and the worth of loot will keep increasing as the price of Bitcoin climbs up.

The volatile behaviour of Bitcoins is ceasing the companies to accept it as a form of payment. However, you can only trade with Bitcoins if there’s another willing buyer.

The company revealed the hack on Dec. 7, but not explaining how the breach occurred. It has however recommended its users to change their passwords for now.