Market Overview

Report: $70 Million In Bitcoin Stolen From NiceHash

Report: $70 Million In Bitcoin Stolen From NiceHash

Close to $70 million worth of bitcoin has been stolen from NiceHash, a mining marketplace that connects people who want to sell processing time on their personal computers to digital currency miners that verify bitcoin transactions.

What You Need To Know

The Slovenian-based company confirmed the data breach and is working with the relevant authorities, The Guardian reported. NiceHash said in a statement that it suffered a "highly professional attack with sophisticated social engineering" that resulted in the theft of around 4,700 bitcoins.

Why It's Important

Cyber security remains a hot topic for digital currency investors, as NiceHash isn't the only company to be the victim of a theft of millions of dollars in bitcoin. Mt. Gox shut down in February of 2014 after losing around 850,000 bitcoins, which resulted in the loss of tens of millions of dollars of user funds. Some of the other notable cyptrocurrency hacks include the theft of $32 million of Ether from the Parity hacker in July and a malicious attack which resulted in $30.9 million of stolen coins in the Tether hack.

What's Next?

Several social media accounts highlighted troubles with NiceHash's website over the past few days, The Guardian also reported. But the price of one bitcoin jumped above the $15,000 mark for the first time ever on Thursday, as digital currency investors appear unconcerned with the theft.

Related Links:

Cramer: Go To Vegas Casinos Instead Of Gambling On Bitcoin

Bitcoin: Millennials' Fake Gold

Posted-In: Bitcoin digital currency etherCryptocurrency Forex Markets Tech Media Best of Benzinga


Related Articles

View Comments and Join the Discussion!

Here's What Sent Lending Club Shares Lower

Expedia's Challenges May Worsen In 2018, Analyst Says