Bitcoin exchange NiceHash loses millions to hackers

Bitcoin exchange NiceHash loses millions to hackers

"Unfortunately, there has been a security breach involving NiceHash website", the company wrote, adding that it was freezing all operations for at least the next 24 hours while it investigated the hack.

"While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords", NiceHash warned users.

Cryptocurrency marketplace NiceHash on Thursday said the contents of its bitcoin wallet had been hacked in a security breach, losing almost $64 million. The market cap for Bitcoin is over $225 billion at present, and while many suspect the cryptocurrency is experiencing a bubble, that's a big target for hackers and the like. 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. It has halted all services for the next 24 hours while it investigates, but thanks to the public blockchain, there's speculation that Nicehash may have lost upward of 4,700 BTC, presently worth more than $63 million Dollars.

More than 4,500 bitcoins worth approximately $62 million at today's prices may have been stolen from the NiceHash exchange.

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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NiceHash said in a statement: "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".

Bitcoin is the world's most popular digital currency. On Jan. 1 this year, bitcoin was priced at just under $1,000. Such currencies are not tied to a bank or government and allow users to spend money anonymously.

Miners of bitcoins and other virtual currencies help keep the systems honest by putting computer power into a blockchain, a global running tally of every transaction that prevents cheaters from spending the same digital coin twice.

This wouldn't be the first time people have lost millions in cryptocurrency.

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