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NiceHash Repays 60% of Stolen Bitcoin

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Bitcoin Scams

NiceHash, the Slovenian bitcoin mining marketplace, repaid about 60% of the about 4,700 BTC stolen.

As the price of Bitcoin hit $20,000, the company was hacked.  More than $65 million, or 4,700 BTC was taken.

However, the company is now reimbursing users for the loss of Bitcoin

In fact, NiceHash tweeted that it successfully completed its seventh reimbursement of stolen BTC.

The mining company also said crypto users registered with the firm before the hack can now access their wallets.  They’ll see original balances.

Nice hash added that the wallets will show the users actual Bitcoin amounts before the December attack.

Unfortunately, users will not receive the value of Bitcoin at the time of the hack.

Bitcoin Hackers not found just yet

Since the hack, police in Slovenia have been investigating the matter.

In a recent statement, Slovenian police noted that the investigation is a complicated one. They cited the anonymity of the sector in addition to the fact that the hackers do not belong to Slovenia. The hackers are also said to have used different ways to hide their identities making the investigation very hard. According to the police: “We are still investigating the hack. It will not be simple because the hackers are not from this country but we are receiving help from international security agencies.”

With any investment, there is the potential for scam and significant risk

So, it pays to be cautious.  When it comes to Bitcoin trading, there’s a tulip mania-frenzy.

It’s so wild that investors are quite literally taking out second mortgages and home equity lines of credit to buy them.  However, with popular trends come risks and the potential for fraud. Cyberattacks and scams cost investors millions of dollars.  Scam artists use Bitcoin phishing techniques, pump and dump schemes, ICO fraud, even Ponzi schemes.

The rate of cryptocurrency scams has only increased.

In 2017 alone, investors reportedly lost over $490 million to Bitcoin and other crypto-related scams.

According to the US Federal Trade Commission (FTC), investors lost nearly $532 million in in the first two months of 2018.

 

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