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During the first week of December, the mining pool Nicehash has been hacked losing 4,450 BTC. At the time of the attack, these Bitcoins were worth around $60 million dollars. At the moment of writing this article, these coins would be worth $66 million dollars.

Nicehash Recovers and Starts Operating Again

“Unfortunately, there has been a security breach involving Nicehash website. We are currently investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours,” reads the official press release at the moment of the attack.

When these kind of attack occur, many users feel that their funds would never be recovered. But this is not the case according to what the company has explained.

Nicehash has contacted its users affected by the hack:

“We are letting you know that our service will be resumed today and your money will be paid back! We are happy to announce we have been able to reserve the funds required to restore balances from a group of international investors. Old balances will therefore be restored by January 31, 2018. We need this interim period to ensure all legal paperwork is processed correctly, so please be patient while we do this.”

Users Can See Their Funds

Some pool members have commented that they can see their BTC balances in the dashboard. Even though, the company has made clear that they won’t be accessible for a few more weeks. That’s important for the company and its reputation.

Many wallets and other cryptocurrency exchanges hacked couldn’t recover the funds and give them back to the users. Sometimes, companies recover some part of the stolen capital but they do not keep operating. Nicehash has been able to give to the users all their money back that they have lost and they will start to operate soon.

Some days ago, at CoinStaker we have covered how YouBit, a South Korean exchange went bankrupt because of a hack. Users will only receive 70 percent of their assets and the company will cease to operate.

Our entirely community is important to us, but as one of our buyers, you are even more so. You have invested with us – not only your money, but your trust as well. As we said immediately following the hack, we would simply not exist without our devoted buyers and miners around the world,” keeps the statement.

The company has been working hard with the local law enforcement authorities and the developer team. As a result of this, the funds are back, and the mining pool could start its operations soon.


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