NiceHash founders apologize after hack of worth Rs500 crore

Slovenia-based NiceHash founders Marko Kobal and Sasa Coh appeared on a six-minute Facebook live stream to apologize for the attack that saw users lose 4,700 bitcoins, saying someone wanted to bring them down.

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Kobal said the hackers are from outside of Europe relies on the attack computer IP identity. They said that hackers gained access to company’s computers and stole one of NiceHash engineer’s credentials. Therefore, which were using to access the payment system.

The company is a mining market and allowed users to rent or sell mining equipment to other users. The fact that they had good success handing over a billion dollars to miners. Since over the last three years made someone unhappy. Also drew the wrong kind of attention to the company, Kobal said.

Related Coverage: Digital wallet NiceHash hacked around $60mln stolen

The company halted operations for 24 hours and their website service is still unavailable as of this writing.

Many users are not clear by the latest announcement and claim saying it looks like an insider job and the founders looked and sounded guilty in the video. Some posted comments during the live update, for instance on whether the company will recover the wallets.

Kobal said the attack was very complex and they would share more information in the coming days. They said they were conducting forensic investigations into how the hacking occurred and could not offer more information on the incidence.

He said they knew the most important concern for users was what would happen. Besides, how to get their money and they had to inform several exchanges. Thus, mining pools to that effect to help track the culprits. However, recover the funds but that would take time. They said they were also working with developers to bring the service back to normal so miners can start mining again.

NiceHash earlier said they were working with law enforcement to identify the culprits.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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