Hackers Target Cryptocurrencies: NiceHash loses 64 million USD

Hackers Target Cryptocurrencies: NiceHash loses 64 million USD

Hacking has increased manifold in the last few years. Owing to this major security issue, no one feels secure and world’s most expensive virtual currency is no exception.

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NiceHash, which is a famous Slovenian based cryptocurrency mining site is said to have lost almost 64 million USD to hackers. As per reports hackers managed to enter their payment system and stole Bitcoin worth 64 million USD i.e. approximately 413 crores in Rupees.

NiceHash is a cryptocurrency mining site that is said to sell processing times on computer in exchange of bitcoin.

nice hash loss

As per Andrej P. Skraba, executive in NiceHash, they have been a victim of “a highly professional” robbery which is reported to be of almost 4,700 Bitcoin.

In recent times, almost 3 dozen robberies have been reported where exchanges that deals in selling and buying digital money were targeted. This obviously includes the largest of robberies of 2014 that collapsed Mt. Gox, the largest bitcoin market of its time.

As per reports, bitcoin worth 15 billion USD have been stolen till date. Where some cryptocurrencies were recovered, there were some investors who got bankrupt as no compensation was given.

Bitcoin’s have seen the maximum price hike in year 2017 i.e. almost 15 times and comes to approximately $16,000. Owing to this extreme increase in Bitcoin prices hackers are trying everything to target people who lack in defending their virtual currencies. This loophole in proper knowledge amongst users give them ample opportunities to attackers.

As per Avivah Litan, a Gartner security analyst, “These exchanges are not in my opinion secure”, “You don’t know what their security is like behind the scenes.”

As of now the only measures taken by NiceHash includes halting operations since Wednesday and advising its customers to change their passwords.

According to an official Press Release by NiceHash, “We ask for patience and understanding while we investigate the causes and find the appropriate solutions for the future of the service”.

See Also: The Battle Of Cryptocurrencies: Bitcoin v/s Ethereum

press release nicehash

There is however a lot of ambiguity amongst users whether they are a victim of the hack and that whether there will be any losses to them.

Even Slovenian police rejects to give any update on the attack.

Pragya Dani is a technical blogger at Systweak. She loves exploring hidden and lesser known features of gadgets and all things tech. Pragya also likes trying out different cuisines and Italian tops her list

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