Cryptocurrency mining platform NiceHash was allegedly hacked. According to a NiceHash executive, 4,700 BTC worth over $70 million were stolen in a security breach.

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NiceHash said in a statement it was “investigating the nature of the incident” and that it would stop all operations for 24 hours.

“Our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken,” the company said.

“Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. 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.”

NiceHash head of marketing Andrej P. Škraba told Reuters on Thursday that the hack was “a highly professional attack with sophisticated social engineering” and that about 4,700 bitcoin, worth over $70 million at press time, were lost. Škraba said the Slovenia-based company was co-operating with local authorities but declined to provide more information.

The mining pool initially said its service was undergoing “maintenance”, later adding it was “working hard” to resolve issues affecting the site.

Users highlighted the security breach on Reddit and Twitter Wednesday, some saying they could lose hundreds of dollars. The pool’s bitcoin wallet balance may have been sent to this specific address, but the information has yet to be verified.

NiceHash hacked – Featured image source: CNN Money

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