60 MILLION DOLLAR BITCOIN THEFT IS DISASTER FOR MINERS

60 million dollars has been stolen in BITCOIN by hackers...


Overnight, one account using the services of Nicehash, a cryptomining marketplace, has stolen over $60 million from other users.

Nicehash is a site that allows owners of mining equipment to rent out their hash power to buyers. Sellers of hash power find it convenient because they don’t have to spend as much time finding the most profitable coins to mine. Buyers are happy that they don’t have to buy expensive mining equipment for what may merely be a short but intense bout of mining.

Because the site works in this way, the theft of $60 million from numerous wallets will disproportionately affect smaller mining operations ie individuals.

Most large services keep the vast majority of their BTC in cold storage. CoinBase, for example, only keeps 2% of their coffers out of cold storage, and that 2% is fully insured. It appears, however, that Nicehash kept all of their BTC online, uninsured and unsecured.  Furthermore, if you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000.

It is this seemingly monumental lack of security that has led to the speculation that this theft is an inside job.

The owner of the company with a share capital of half a million euros is Bitorious (45%) based in Dornberk, its director is Marko Kobal, and 55% of the company is owned by H-Bit. The owner of H-Bit is Martin Škorjanc. An interesting fact is that Martin Škorjanc is the father of Matjaž Škorjanc, who was arrested by Slovenian police, with the help of the FBI, a year ago for online cybercrime.

Nicehash are “truly sorry for any inconvenience this may have caused”.  I suggest that a combined amount of over $60million (with some people inevitably losing hundreds of thousands) is more than an inconvenience.

If you’re interested, this BitCoin wallet had 60 million + worth of BitCoin deposited in it and is believed to be where the hackers have transferred the funds. https://bitinfocharts.com/bitcoin/address/1EnJHhq8Jq8vDuZA5ahVh6H4t6jh1mB4rq

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Like Like
0
Like
Lol Lol
0
Lol
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Comments 0

Your email address will not be published. Required fields are marked *

60 MILLION DOLLAR BITCOIN THEFT IS DISASTER FOR MINERS