Published: Thu, December 07, 2017
Finance | By Loren Pratt

Hackers steal more than $62 million in Bitcoin

Hackers steal more than $62 million in Bitcoin

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.

The hack took place as Bitcoin hit new record highs, despite many analysts having publicly dismissed the phenomenon as no more than a speculative bubble which was ready to burst at any time.

NiceHash Site has been hacked that resulting the Bitcoin steel.

The statement said, "Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days".

NiceHash has temporarily ceased operations following a security breach in which a criminal gained unauthorized access to its Bitcoin wallet.

The incident brings back the memories of the 2014 implosion of the "mtGox" Bitcoin marketplace which lead to losses of millions of dollars. Although bitcoin owners are usually anonymous, the amounts stored in their wallets are publicly searchable online.

Bitcoins are created through a complex computer process known as mining and then monitored by a network of computers across the world.

The hack illustrates a major problem with Bitcoin - while the network itself is seen as nearly unhackable, the exchanges that many people rely on to store their money are vulnerable.

It wasn't immediately clear whether funds had been taken from NiceHash users' accounts as well.

NiceHash has asked all customers to change their wallet passwords as a precaution but Tyler Moffitt, Senior Threat Research Analyst at Webroot, believes that people who use NiceHash's services for mining cryptocurrency should always have payouts trigger at the smallest amount and that the firm should do more to secure the security around customer wallets. Others said their balances on the website went down to zero. Bitcoin is the most popular one.

Troubles with the website over the past day or so drew alarm and complaints, with many bitcoin owners posting panicked comments on NiceHash's social media accounts.

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