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NiceHash cryptomining exchange hacked; everything’s gone – Naked Security

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NiceHash buyers and miners, change your passwords immediately if you haven’t already been ransacked: the cryptomining exchange that describes itself as the world’s largest marketplace for mining digital currencies has been vacuumed out.
Late Wednesday night, NiceHash said that it was suspending its operations for at least 24 hours because of a security breach.
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
According to CoinDesk, a site specializing in cryptocurrency news and information, news of the breach comes on the heels of an hours-long outage and reports from a multitude of users that their NiceHash-associated wallets had been emptied. NiceHash had previously posted an announcement that its service was “under maintenance.”
NiceHash users have been passing around a link to a Bitcoin account that appears to belong to the hacker(s). It shows that as many as 4736 bitcoins had been stolen.
That jibes with what NiceHash head of marketing Andrej P. Škraba told The Guardian: namely, that the hack – “a highly professional attack with sophisticated social engineering” – resulted in approximately 4700 bitcoins being stolen.
As of Thursday morning, that amount was worth about USD $80 million – a value that skyrocketed from what The Hacker News said was $58 million at the time of the theft.
At the time of writing, the NiceHash service was still offline. NiceHash, which formed in 2014, still had a “Service Unavailable” post on its website, along with its official press release about the hack.
Unfortunately, the NiceHash hack is a prime example of how you can lose money beyond just the wildly fluctuating value of cryptocurrencies. As Naked Security’s Taylor Armerding noted recently, cryptocurrency exchanges – the sites where these currencies are bought, sold and stored – are a soft and vulnerable underbelly.
Once you’ve uploaded your private keys to an exchange to make trading easier, they’re at the mercy of that site’s security. The sites can be hacked, via social engineering or other means, and the keys can be stolen. Unfortunately, there’s no Federal Deposit Insurance Corporation (FDIC) to protect your Bitcoin; nor do governments or central banks back them up.
In August 2016, we saw it happen to Bitfinex, which was then the world’s largest Bitcoin exchange.
At that point, the one question on everybody’s lips was this: Are we getting Goxed again?
That had been, up until the Bitfinex hack, the Mother of All Bitcoin Bellyups. Mt. Gox, a Tokyo bitcoin exchange, announced in 2014 that there’s been a mysterious vanishing of half a billion dollars worth of digital assets.
In the case of Mt. Gox, 850,000 Bitcoins went missing and were thought to be likely stolen. That would be worth about $14.4 billion nowadays. But sometime after Mt. Gox found 200,000 of those Bitcoins, its chief was accused of embezzlement and data manipulation.
His trial started up in a Tokyo court in July. According to the Guardian, those affected by Mt. Gox’s failure are still trying to claw back the funds they lost and looking to the trial to hopefully help explain what happened.
The value of Bitcoin is through the roof, and it’s showing no signs of slowing down. It jumped past 15,000 on Thursday, and experts are predicting that it could get as high as $100,000 one year from now.
With no better value for a hacker, we can expect more stories like this one.

Follow @NakedSecurity on Twitter for the latest computer security news.
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As a miner who used nicehash’s miner, it is beneficial to have the nicehash pool pay out to a different wallet. Though the amount prior to pay out, which usually hovers around .01 BTC and lower for me, was missing from my nicehash account last I looked. Pay outs are different for everyone depending on their settings. The nice Nvidia GUI and old AMD GUI mining software doesn’t have any passwords to change.
Easy come, easy go. Get A Real Job.
lol Mining aint easy



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Explained: India's first crypto index and what it means for investors in India – Times of India

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Intel, Block Supporting Mining a Positive for Bitcoin’s Price: Analyst – CoinDesk

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Large tech companies such as Intel and Block (previously Square) delving into making mining more efficient and accessible is likely to help the price of bitcoin by encouraging mass adoption, said an analyst for U.K-based digital asset broker GlobalBlock.
Intel, one of the world’s largest chip makers, said on Jan. 18 it will unveil an “ultra low-voltage bitcoin mining ASIC” which will be a more efficient specialized mining computer, competing with current miners that are in the market. “The fact that a $200+ billion tech firm is providing solutions for Bitcoin mining is more confirmation of big players entering the crypto space,” said GlobalBlock’s analyst Marcus Sotiriou.
The chipmaker said its new miner will reduce power consumption by about 15%, Sotiriou said, adding that such an increase in efficiency will help more institutional investors to enter the sector as ESG (environmental, social and governance) is one of their key investment priorities. If such a scenario plays out, it will likely help support bitcoin’s price.
Read more: How Bitcoin Mining Works
Crypto miner Griid Infrastructure, which is going public via a merger with special purpose acquisition company Adit EdTech Acquisition Corp., has already signed a supply agreement with Intel to potentially buy the chip maker’s new ASIC miners, according to a filing.
Meanwhile, payments giant Block said on Jan. 13 that it’s going ahead with its plan to build an open-source bitcoin mining system to make “mining more distributed and efficient.” If this feature is integrated with Cash App, it might increase the use of bitcoin to pay for goods and services by its users, furthering bitcoin adoption by the masses, Sotiriou noted.
“If successful, this will dramatically increase bitcoin’s use case as a means of exchange, rather than just a store of value – this would result in significantly more adoption and hence help bitcoin reach price figures of over $100,000,” he said.
Bitcoin is now trading near $42,000 since reaching its all-time high of just under $69,000 in November. The stocks of some miners, which are highly leveraged to the price of the crypto currency they mine, have tumbled more than 50% since their peak.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Aoyon Ashraf
Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets
Follow @@Aoyon_A on Twitter
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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
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Dogecoin value 2022: Why did Elon Musk make the cryptocurrency's value rise? – Marca English

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Dogecoin’s value increased by 5,859% over the past 12 months
Dogecoin rose to $0.20 – a 15% increase in value – after billionaire Elon Musk announced Tesla would accept the cryptocurrency for purchasing merchandise.
The cryptocoin with the shiba inu dog meme originally started as a joke, but Musk’s various tweets about it have helped Dogecoin increase by 5,859% over the past 12 months, according to Coinbase. Tesla’s website started accepting Dogecoin soon after, with items such as an electric quad bike for kids priced at 12,020 doge ($2,368), the “Giga Texas Belt Buckle” for 835 doge ($156), and a whistle for 300 doge ($57).
This is just one of many tweets by Musk regarding Dogecoin, the first one coming December 20, 2020 when he tweeted, “One Word: Doge.” Shortly after his tweet, the value of Dogecoin rose by 20%.
Musk followed that post with a barrage of Dogecoin-related tweets in February 2021, including, “Dogecoin is the people’s crypto,” and “no highs, no lows, only Doge”. After these tweets, Dogecoin’s value soared by roughly 40%.
After a full year of showing support for Dogecoin, on December 14 Musk said Tesla would accept the cryptocoin to pay for merch. Dogecoin spiked more than 20% after his tweet.
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