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CRIME Largest Crypto-Mining Exchange Confirms It Was Hacked, Over $50 Million In Bitcoin Stolen
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  1. #1
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    4 Largest Crypto-Mining Exchange Confirms It Was Hacked, Over $50 Million In Bitcoin Stolen

    http://www.zerohedge.com/news/2017-1...bitcoin-stolen

    Largest Crypto-Mining Exchange Confirms It Was Hacked, Over $50 Million In Bitcoin Stolen
    by Tyler Durden, Dec 6, 2017 3:38 PM


    As Bitcoin explodes higher on what now appears to be constant demand out of South Korea, there were unconfirmed (at least until recently) reports that Nice Hash, the largest crypto-mining marketplace, has been hacked with over 4,000 bitcoins worth over $50 million stolen.


    David Gerard
    @davidgerard
    NiceHash has suffered a completely unpredictable and unforeshadowed cut and run^W^W^Whack, so much for the home miners and their extensive graphics card collections https://www.reddit.com/r/NiceHash/co..._much_did_you/ … https://steemit.com/nicehash/@quatar/nicehash-outage …
    10:24 AM - Dec 6, 2017
    Nicehash outage — Steemit
    No one is really talking about it yet. But rumors at around 4am pst on the nicehash discord are stating Nicehash may… by quatar
    steemit.com
    5 5 Replies 16 16 Retweets 29 29 likes
    Visits to the website over the past 13 hours were greeted with the following maintenance notice.

    NiceHash
    @NiceHashMining
    Dear NiceHash user, our service is currently under maintenance.
    We are sorry for the inconvenience and please stay tuned for updates.
    Thank you for your understanding.
    2:52 AM - Dec 6, 2017
    192 192 Replies 59 59 Retweets 167 167 likes
    According to TweakTown, there are some posts by people saying that NiceHash transferred all of the BTC sitting in miners' wallets into a single wallet before NH fully went down.

    NiceHash
    @NiceHashMining
    Dear NiceHash user, our service is currently under maintenance.
    We are sorry for the inconvenience and please stay tuned for updates.
    Thank you for your understanding.
    Bonus Legit
    @LegitBonus
    Why is my nicehash wallet zero? I checked the transactions on a 3rd party website and my balance was zeroed out.
    8:58 AM - Dec 6, 2017
    If NiceHash were hacked, then it makes sense that the hacker pushed all of the Bitcoin into a single wallet and then transferred it to their own wallet. There's no way of getting it back if that's the case, and if that is indeed the case, there's no way NiceHash can restore money to miners' wallets. If we're talking about $50 million or more, it's going to hurt, bad.

    Earlier, WklTribune reported that they've been in contact with NiceHash CEO Andrej Nabergoj, who said that NiceHash is "assessing the situation and working with the authorities. We'll have a public statement shortly".

    And then, moments ago NiceCash confirming there was a security breach:

    NiceHash
    @NiceHashMining
    Here is our official PRESS RELEASE about the security breach!https://www.reddit.com/r/NiceHash/co...t_by_nicehash/ …
    3:23 PM - Dec 6, 2017
    Official press release statement by NiceHash • r/NiceHash
    Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a...
    reddit.com

    From the release:

    Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours.

    Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken.

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

    We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity.

    We would not exist without our devoted buyers and miners all around the globe. We understand that you will have a lot of questions, and we ask for patience and understanding while we investigate the causes and find the appropriate solutions for the future of the service. We will endeavour to update you at regular intervals.
    And the best part:

    While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords. We are truly sorry for any inconvenience that this may have caused and are committing every resource towards solving this issue as soon as possible.
    One wonders: if one has just had millions in bitcoin stolen, will changing the password really help?

    So far Bitcoin has taken the massive hack well, and continues to rise, approaching $13,500.

    The news could be negative - at least in the short-term - for companies catering to "home miners" such as Nvidia, the biggest beneficiary of the bitcoin mining euphoria.
    If at first you don't secede, try, try again!

  2. #2
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    Theres the problem with this form of money exchange! Its not trackable and to show up with as huge increase somewhere else like real money does.
    Last edited by Publius; 12-06-2017 at 10:03 PM.

  3. #3
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    Seems to be a trend. I posted this over on the other thread today;


    Traders at top bitcoin exchange claim they have no access to their money
    Published time: 6 Dec, 2017 13:06


    http://www.timebomb2000.com/vb/showt...08#post6692608
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  4. #4
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    Well that was inevitably.
    vienna 1683.

    Turn your swords into plowshares ,and you'll be plowing for those that didn't...

    We didn't create GOD out of our imagination ,He created us out of his.

  5. #5
    Difference to those who don't depend or use exchanges and those who do, and this illustrates it.

    Almost no one understands it and gets sucked into trying to use things they understand and this happens.

    Smart users are a zero risk.
    Dosadi

    III


    My family & clan are my country.

  6. #6
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    Digital currency got hacked?

    Didn't see that one coming.
    “Pay heed to the tales of old wives. It may well be that they alone keep in memory what it was once needful for the wise to know.” – J.R.R. Tolkien
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  7. #7
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    Hence the reason you store your crypto on a PAPER WALLET! For all their wealth, they were amateurs.

  8. #8
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    Yea, time to buy a hardware wallet.
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  9. #9
    I'd wondered once or twice if this were a good time to start mining. It's harder than ever because it's been going on for so long, but considering the price of one and the fact that most people could probably live on two to three a year, maybe it was worthwhile.

  10. #10
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    Quote Originally Posted by Blacknarwhal View Post
    I'd wondered once or twice if this were a good time to start mining. It's harder than ever because it's been going on for so long, but considering the price of one and the fact that most people could probably live on two to three a year, maybe it was worthwhile.
    As I understand it, your cost of electricity is a big factor.
    I heard somewhere there are data centers that do mining using cheap hydro power in very cold countries, they just open the roof for cooling.
    "...Cry 'Havoc' and let slip the cats of war..."
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  11. #11
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    Quote Originally Posted by Publius View Post
    Theres the problem with this form of money exchange! Its not trackable and to show up with as huge increase somewhere else like real money does.
    I believe it is traceable in that every transaction is recorded, they know what “wallet” that hacker used, but there is no way to identify the physical person in any way until he uses the bitcoins in the real world, buying something that is shipped to him or something like that. Some Silk Road type group got ripped off, they can see the account, they just can’t get it back or find a person to beat the crap out of. They’ll keep watching it.
    "...Cry 'Havoc' and let slip the cats of war..."
    Razor sharpening while you wait - Occam
    If it works, it doesn't have enough features. - Windows 10 design philosophy.
    Forget the beer, I'm just here for the doom!
    Humans, just a tool for amino acids to make Swiss watches.

  12. #12
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    Quote Originally Posted by Blacknarwhal View Post
    I'd wondered once or twice if this were a good time to start mining. It's harder than ever because it's been going on for so long, but considering the price of one and the fact that most people could probably live on two to three a year, maybe it was worthwhile.
    I've been wondering this myself.

    We are fully committed to restoring the NiceHash service with the highest security measures at the earliest opportunity.
    The exposure is not Bitcoin itself. It is using a centralized organization and centralized processes that put that many BC in one place (the contents of the NiceHash Bitcoin wallet have been stolen) behind a single security scheme. If mining had remained decentralized (as was intended) this event would not have been possible.
    Stop asking why and start asking who

  13. #13
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    Quote Originally Posted by Profit of Doom View Post
    As I understand it, your cost of electricity is a big factor.
    Not to mention the computer hardware. Your not going to do it with your desktop. Not enough horsepower.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  14. #14
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    Quote Originally Posted by Dosadi View Post
    Difference to those who don't depend or use exchanges and those who do, and this illustrates it.

    Almost no one understands it and gets sucked into trying to use things they understand and this happens.

    Smart users are a zero risk.
    Yup...

    o)<

    mike
    black is white...

  15. #15
    Quote Originally Posted by Profit of Doom View Post
    As I understand it, your cost of electricity is a big factor.
    I heard somewhere there are data centers that do mining using cheap hydro power in very cold countries, they just open the roof for cooling.
    I'd heard about cloud mining too, but then someone had a great analogy: No one's going to rent you a money-printing machine for less than they could get using it themselves.

  16. #16
    Quote Originally Posted by Hfcomms View Post
    Not to mention the computer hardware. Your not going to do it with your desktop. Not enough horsepower.
    That's a big point. The graphics cards required are amazing. Though I'd heard about USB-based systems like Antminer; apparently these are sufficiently powerful on their own, but run $500 to $2000. Which isn't exactly a crippling investment, but would the prices stay high long enough to make it worthwhile, or are you basically buying a box about to become obsolete?

  17. #17
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    Or, perhaps what could be called "Low-Tech Option B" - "If you can't hold it in your hot little hand, you don't own it!"
    If at first you don't secede, try, try again!

  18. #18
    I read this AM that bitcoin hit $15,000.
    Bitter Clinger, Deplorable, & Proud of it.

  19. #19
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    Quote Originally Posted by AuEagle View Post
    I read this AM that bitcoin hit $15,000.

    Anything going straight up comes down just as fast. Those that time it right can make a fortune. The few that time it right however. With everyone piling in it's a historic mania with people throwing caution to the wind. Everyone familiar with history knows that ends in tears for most. The .com bubble comes to mind. Both my nieces had a big inheritance from their grandma, were fully invested riding the dot com mania and pretty much lost it all. I just keep stacking and took delivery on Monday of another mint roll of maple leafs just about being given away.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  20. #20
    Was going to post this today.
    “My religious belief teaches me to feel as safe in battle as in bed. God has fixed the time for my death. I do not concern myself about that, but to be always ready, no matter when it may overtake me. That is the way all men should live, and then all would be equally brave.” - Stonewall Jackson

  21. #21
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    As of this post's time, BTC is trading on the Coinbase exchange GDAX for $17,505. It hit over $19,000 this morning before crashing to about $15,000 and then rebounding. Trade volume is insane.

    Most other coins are also at or near historic highs. Litecoin, the "silver" to Bitcoin's "gold," has been flirting with $100 off and on for like a week.


    The standard disclaimer applies: nobody in this thread is offering trading advice, if you trade you do so entirely at your own risk, and it's always smart to only trade with whatever funds you can afford to lose.
    IMPORTANT NOTE: Any religion-related posts I make are as a member and not as a forum staffer, and are not intended to promote any specific agenda or doctrinal understanding as official or unofficial board policy. Official staff actions on my part will always be clearly marked as such.

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