https://www.bloomberg.com/news/articles/2017-12-06/bitcoin-mining-service-nicehash-says-hackers-emptied-its-wallet

With cryptocurrency being the in thing in the market, are bitcoin mining services using "hackers" as an excuse to cheat you of your money?

Edit: Just checked my nicehash wallet, lost about $3k worth in btc.

Edited December 7, 20178 yr by Charlotte

Since the companies don't really have the security such as a bank would or something such as PayPal, I really wouldn't put it past any of them at all to pull the stunt. It's the perfect scheme really. Pretty odd it happens right when BTC hits a large spike as well.

This hack is going to cost them a lot more money than the amount that was stolen, they were legit rolling.

Thats a bummer. And yes, I wouldn't be suprised they are faking it all

I thought the same thing when I first read one of the articles myself. Luckily, I had no btc stored on a nicehah account. If they were to do something such as that to their customers it might signal that their mining pool or selling hashrate would no longer be profitable.

I wonder what other wallets that can be trust-able now since we could potentially be compromised with a simple, "we got hacked".

Edited December 7, 20178 yr by Charlotte

I highly doubt it's an intentional thing since they would've made more just continuing on legit. All it takes is one smart exploit to get in, or someone forgetting to keep databases updated or 3rd party apps introduce vulnerabilities as well, or something as ridiculous as a dumb employee plugging in foreign usb into a company computer. Even banks fall victim to these scams but in most cases they can recover the funds, with btc it's different because they can slowly cash out or trade for alt coins and cash out from those.

Thx for the $3k 

Sorry to hear that really sucks, why did you keep the money in nicehash though, why not withdraw it?

20 minutes ago, Antonio Kala said:

Sorry to hear that really sucks, why did you keep the money in nicehash though, why not withdraw it?

No intention to withdraw actually. But it sucks real bad. I think @RDM uses nicehash too, did you lose any btc?

Damn sorry you lost that much, with the current price of BTC I can honestly see more sites using this excuse, would be very hard to prove otherwise

5 hours ago, Charlotte said:

No intention to withdraw actually. But it sucks real bad. I think @RDM uses nicehash too, did you lose any btc?

Yes. I'm a little salty right now.

If they are, brilliant strategy imo unless they are held accountable for it.

It was more or less inevitable that this would have happen at some point.

9 hours ago, Charlotte said:

https://www.bloomberg.com/news/articles/2017-12-06/bitcoin-mining-service-nicehash-says-hackers-emptied-its-wallet

With cryptocurrency being the in thing in the market, are bitcoin mining services using "hackers" as an excuse to cheat you of your money?

Edit: Just checked my nicehash wallet, lost about $3k worth in btc.

 

This is why you shouldn't store any crypto, especially a significant amount like $3k on web services, or any external place where it is out of your control.

• March 2014 - Mt. Gox exchange hack with $473 million stolen
• February 2015 - Bter (exchange) $1,750,000 stolen

• January 2015 - Bitstamp exchange hack with $5.1 million stolen

• March 2016 - ShapeShift (exchange) $230,000 stolen

• March 2016 - Cointrader $33,600 stolen

• June 2016 - Decentralized Autonomous Organization (DAO) hack with $50 million stolen

• July 2016 - Steemit.com hack with $85,000 stolen

• August 2016 - Bitfinex hack with $66 million stolen

• July 2017 - CoinDash ICO hack with $7 million stolen

• July 2017 - Parity multisig wallet hack with $32 million stolen

• July 2017 - Veritaseum’s Ether wallet hacked with $8 million stolen

• August 2017 - Enigma ICO hack with $500,000 stolen

 

Honestly there are many more than these, I just got bored copy / pasting.

With crypto being so hot right now, it is a big target for hackers and scammers.

And also, because it is so new, a lot of these services and software are not as bulletproof as they should be, and due to the anonymity factor I wouldn't trust the creators either.

Do yourself a favor, purchase a hardware wallet, or use a paper wallet, and don't keep chunks of money on shitty services.

You wouldn't trust a significant amount of $/£/whatever on some random ass website, so why do it with crypto?

Edited December 7, 20178 yr by Explv