Business

Nicehash HACKED - now over $62 Million sits in hackers Bitcoin wallet!

Nicehash HACKED - now over $62 Million sits in hackers Bitcoin wallet!

In a warning for those who wish to invest in Bitcoins to make some big bucks, the cryptocurrency mining market NiceHash has revealed hackers wiped out its entire Bitcoin wallet, resulting in over $60 million loss.

The company said it would stop operating for 24 hours while it verifies how many bitcoins were taken.

In contrast to bitcoin's dramatic gains, global stock markets have been cooling down considerably into the end of the year after rallying notably in recent weeks.

Bitcoin climbed as much as 7.9 percent on Thursday as it surged above $14,000, extending this month's advance to more than 40 percent. In India, the Reserve Bank of India (RBI) this week cautioned the "users, holders and traders" of Bitcoins about the security-related risks associated with dealing with such virtual currencies (VCs). At Thursday's record price of about $15,000, that would put the value at over $70 million.

Data from the CoinDesk Bitcoin Price Index (BPI) shows the price of bitcoin was just under $12,000 at 1:00 UTC on Wednesday, before climbing to $14,000 today.

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It wasn't immediately clear whether funds had been taken from NiceHash users' accounts as well. "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", the statement reads.

Cboe Global Markets Inc. has said it will start trading bitcoin futures on December 10, while CME Group Inc.'s contracts are set to debut on December 18.

"Bitcoin continues to have a strong bid during Asia trading as emerging market currencies are being sold to buy, pushing us above another milestone", Spallanzani said in a Twitter direct message soon after bitcoin broke $12,000.

Bitcoin and other cryptocurrencies have transformed from an esoteric idea hatched on the internet to the financial world's mainstream with market valuations that eclipse some publicly traded corporations, including Goldman Sachs (GS). Such currencies are not tied to a bank or government and allow users to spend money anonymously. Others say they can be helpful methods of payment, such as in crisis situations where national currencies have collapsed.


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