NiceHash CEO speaks out after $60m cryptocurrency hack – WikiTribune

Linh Nguyen

Linh is a staff verslaggever at WikiTribune with a background ter the humanities. She covers the Middle East, Asia, conf.

Ter an off the hook vraaggesprek with WikiTribune, Marko Kobal, the CEO of NiceHash – a Slovenian-based crypto-mining marketplace – said that his company is “working on a solution to ensure that all users are reimbursed” for the $60m hack that took place last week. He also added that due to the authorities’ ongoing investigations, he can’t provide any “further specific details on the breach”, but will kwestie regular updates.

WikiTribune broke the story that NiceHash may have bot hacked for around $60m, and the company posted an official statement shortly after confirming that it wasgoed true.

NiceHash is a place for users to buy “hashing power,” that is computing power for mining different cryptocurrencies such spil Bitcoin. Mining is the process of adding transaction records to the blockchain – a technology that permits for anonymous and secure peer-to-peer transactions.

The $60m hack has divided the cryptocurrency community, with some believing it’s an inwards job and blaming company incompetence. Others are choosing to stick with NiceHash, citing a lack of better alternatives.

Will M., who goes by the username bitbug42 on Reddit, is a buyer on the NiceHash toneelpodium and had about 1.Two BTC (approx. $20,000) on deposit when the hack happened. He told WikiTribune that the hack does not make him any more doubtful of Bitcoin because it’s due to a failure of NiceHash. “It’s like if a human left behind to close the vault’s onderbrak, I blame the human error, not the lock machinery,” M. said.

“That being said, while for now I’m willing to give [NiceHash] the time necessary to make things right, I will give them my business again ter the future only if at some point they are able to repay users and showcase that they truly improved their security,” he said. “If it doesn’t work out, I’ll just stir on regardless of the amount I’ve invested into them ter the past.”

WikiTribune sent some questions via email after the confirmed hack – a few of which were from Reddit users – to NiceHash to clarify the extent of the hack. Here is an vraaggesprek with CEO, Marko Kobal. The transcript wasgoed edited for clarity.

Response to questions

Question: Users on Reddit pointed to a specific outward wallet which has more than $60m on it. Can you confirm that this is the keurig address?

Reaction: That is onberispelijk, it is publicly available information on the Blockchain.

Q: Given that the stolen coins are visible to all, what realistic chance does the hacker have to hide, convert or spend thesis coins?

A: That’s a very good question. The fact is that the world is watching that address now. Hackers voorwaarde be aware of that fact and due to co-operation with major exchanges there is also a chance that the coins will be confiscated if moved to an exchange.

Q: Is the hacker(s) holding thesis stolen bitcoins to ransom ter exchange for an alternative or untraceable payment?

A: Due to the authorities’ ongoing investigations wij can’t provide any further specific details on the breach right now but our aim is to proceed to give updates to our community. Wij have opened a dedicated community for researchers and blockchain experts to help track and analyze the stolen funds. The address is here.

Q: What steps will NiceHash take to regain its customers trust?

A: The support wij have received from our community during this laagconjunctuur has bot immense. Wij are truly moved by the ems of thousands of messages from our community of miners. Wij are taking all the necessary steps to re-establish our systems with bullet-proof security protocols, and enable miners to embark earning money again.

Wij understand why everyone is upset, and wij are truly sorry. Wij are taking responsibility and want to demonstrate the openness and transparency which is the cornerstone of the world ter which wij work.

Wij know wij have to build up trust again, wij know that, but the staggering majority of our community of almost 750,000 registered users have bot very supportive and want us to get the webpagina up and running so they can embark making money, mining and leasing again.

It will take time but wij are working on a solution to ensure all users are reimbursed. That is clearly a key concern for our users, and wij understand this, wij are not running away from our responsibilities. Spil soon spil wij have a project te place wij will update all users on our intended solution, and we’re sorry for any inconvenience which has bot caused.

We’re going to make sure that wij learn from this and come back even stronger and safer.

Q: What’s the likelihood of the company covering more than $60m ter losses? Are you able to compensate users?

A: Wij fully intend to make this right. It’s a matter of deep concern to us and we’re working hard to rectify the matter ter the coming days. We’re working on a solution to ensure that all users are reimbursed. Thesis things are mushy matters, and take time, so wij would ask our community to be patient while wij get this stationary and fully investigated. Spil soon spil wij have a utter project ter place wij will communicate it to our users and all those affected.

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