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Millions stolen in NiceHash Bitcoin theft

(Image credit: Image Credit: Geralt / Pixabay)

Hackers were able to still 4,700 Bitcoin, currently valued at around $70 million, from one of the Europe's leading mining services after a recent cyber attack. 

The Slovenia-based mining exchange, NiceHash was attacked by hackers early on Wednesday when they entered it systems at 01:18 CET.  Two hours after the breach, the attackers, which the company believes are based outside of the EU, began to steal Bitcoins from the service. 

The timing of the attack coincides with a recent surge in the price of Bitcoin though large scale attacks on Bitcoin and other cyrptocurrencies are not uncommon due to the fact that it is quite difficult to trace these digital currencies after they've been stolen.    

NiceHash's chief executive, Marko Kobal took to Facebook Live to assuage concerns users' concerns following the hack, saying: “We have not abandoned you guys.”  He went on to explain how an employee's computer was compromised during the attack and that now a forensic analysis was being conducted by both local and international authorities. 

NiceHash faced a great deal of criticism from angry users on Facebook after the hack and the situation was further worsened when a fake Facebook page for the company was set up to help spread disinformation regarding the hack. 

Bitcoin is extremely volatile (opens in new tab) at the moment but if it continues to increase in value as it has this week, expect more high-profile hacks involving the highly popular cryptocurrency to occur in the future.     

Image Credit: Geralt / Pixabay

Anthony Aragues is the Vice President in charge of Product Marketing for Anomali and is an industry veteran with 20 years of experience in threat intelligence and data visualisation.