HomeBitcoin NewsNicehash Returns to Action After Theft of 4,700 Bitcoin

Nicehash Returns to Action After Theft of 4,700 Bitcoin


Positive surprises do not come around all that often in the world of Bitcoin and cryptocurrency. This makes the return of Nicehash all the more significant. Not too long ago, the service was compromised and almost $70m worth of user funds were stolen. Earlier today, the company announced the service is back online. Unfortunately, a lot of people are only now realizing their money is effectively gone. A very unfortunate incident, to say the very least.

Big was people’s surprise when Nicehash was compromised about two weeks ago. Until this day, we still don’t know the full extent of this attack whatsoever. Someone successfully emptied the Bitcoin wallet containing over 4,700 BTC. None of the money has been retrieved so far. It is safe to say that won’t happen in the future either. Thefts in the cryptocurrency world usually result in major losses for affected users.

Nicehash Makes a Surprising Return

Affected users are wondering how their balances will be restored. That will be very difficult, although Nicehash reserved the money required to restore balances. More details on this topic will be revealed as of January 31, 208. It is good to see this course of action, as Nicehash is still a very popular service.Users can once again lease hashpower and make money in the process.  We can only hope incidents like this won’t happen again in the future. For now, only time will tell if that is the case.

All platform users are advised to create a new password. Additionally, they need to set up two-factor authentication once again. IIt is also recommended to not use your old deposit address again. It is evident the company wants to ensure their users are safe from any major problems in the future. It will be interesting to see how they go about refunding affected users in the future.

For now, it doesn’t appear as if the service itself is hindered by this heist, though. All services still work as they always have, which is good to see. It’s also good to see Nicehash come back after such a major setback. Most other companies would simply disappear as they have no option to repay affected customers. Securing outside funding to resolve this matter is an interesting development, to say the least. We hope the company continues to provide this invaluable service to cryptocurrency users for quite some to come.

Header image courtesy of Shutterstock


JP Buntinx
JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

Upcoming Events

Most Popular