NiceHash Marketplace Hacked, Loses $64 Million ter Bitcoins – Security News – Trend Micro PH

NiceHash Marketplace Hacked, Loses $64 Million in Bitcoins - Security News - Trend Micro PH

Slovenia-based cryptocurrency-mining marketplace NiceHash confirmed that its webstek wasgoed breached and payment system compromised, with the contents stored te its Bitcoin wallet stolen. The losses reportedly amount to almost Four,700 bitcoins, or US$64 million.

NiceHash posted a statement on its webstek addressing the incident. “Unfortunately, there has bot a security breach involving NiceHash webstek. Wij are presently investigating the nature of the incident and, spil a result, wij are stopping all operations for the next 24 hours.”

NiceHash permits users to buy and sell hashing power needed to mine cryptocurrency, which members can store ter outward or local BitGo wallets. The extent and influence of the incident are yet to be known or fully disclosed, but it means members stand to lose the cryptocurrency they’ve mined or accumulated through NiceHash.

NiceHash’s hack comes at the high-heeled shoes of cryptocurrency’s all-time highs te popularity and value. Bitcoin’s price, for example, has already surpassed the $14,000 mark. This presents opportunities for miners, poolers, and investors alike, given cryptocurrency’s enlargening adoption among businesses and public organizations.

Unluckily, the enlargening popularity and value of cryptocurrencies like Bitcoin also make them profitable targets for cybercriminals, spil exemplified by the surge of cryptocurrency-mining malware.

This year, we’ve seen a multiplicity of miners using different mechanisms to steal the infected system’s resources to mine cryptocurrencies—from employing worms and malicious Android apps and zombifying huis routers to using social engineering lures like tech support scams. One even used EternalBlue to propagate filelessly. More recently, the Quant Trojan wasgoed reportedly updated to be able to steal cryptocurrency wallet credentials. It wasgoed also sold spil MrRaiX and DamRaiX te Russian underground forums that doubled spil a distributor of an information stealer and ransomware.

Cybercriminals and hackers aren’t just limiting themselves to stealing from digital wallets. They’re now also setting glances on the platform’s infrastructure itself or its conduits for higher comes back. Last July, South Korean cryptocurrency exchange Bithumb wasgoed hacked, resulting te the theft of personally identifiable information of overheen 31,000 of its customers.

A month after, hackers netted around $500,000 worth of ether (a cryptocurrency under the Ethereum verhoging) from the Enigma cryptocurrency exchange after they hacked its webstek and sent spam emails to its community members. Ter June 2016, a vulnerability te Ethereum’s Digital Autonomous Organization (DAO) permitted hackers to siphon $50 million worth of ether. Ter late November, a €100,000-bitcoin heist wasgoed perpetrated by cyberthieves ter Austria, stealing from the unwitting victim while he logged into his account overheen an unsecured Wi-Fi connection.

Miners, everyday users, and organizations alike can adopt best practices to mitigate the influence of cryptocurrency-related threats. Among them: adding extra layers of security to accounts and third-party services (i.e., two-factor authentication), proactively monitoring the network for any suspicious activity, and being aware of socially engineered scams. Cryptocurrency miners can consider using “cold storages” (keeping the bitcoin reserve/fund offline) spil a precaution when dealing with sizeable amounts of cryptocurrency.

Regarding NiceHash’s hack, the company’s press release said, “Clearly, this is a matter of deep concern and wij are working hard to rectify the matter te the coming days. Ter addition to undertaking our own investigation, the incident has bot reported to the relevant authorities and law enforcement and wij are co-operating with them spil a matter of urgency.”

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