The infamous cryptocurrency hack that saw scammers removing 4,640 Bitcoin from the NiceHash cryptocurrency market, is now starting to make headlines three years later, as the exchange reimburses affected victims with their long Bitcoin -goll.
The trading platform that doubles as a mining pool has fully repaid all affected consumers, according to a letter posted to its official website by the company’s CEO, Martin Škorjanc, where it note that the perpetrators are behind what he refers to as the “greatest robbery in Slovenia’s history,” yet to be identified. The 4,640 stolen bitcoins that were worth $ 55 million at the time of the incident have now doubled in value to $ 100 million. For the exchange, the repayment was likely to be made at a loss, to the recipients, on the other hand, this increase in value is good news.
2017 saw a myriad of cryptocurrency hacks, along with multiple ICO scams. The exchanges were in their formative stages and were only beginning to develop the security of their platform when hackers famously tapped onto the platform by breaching external security either conducted independently or unknowingly by unwitting immigrants. This led to users of many exchanges, including NiceHash, becoming victims of crypto-thefts. The CEO revealed that the attack threatened the platform to the point where shutting down became an option. He wrote;
“At the time, many tried to convince us that there was no solution for us. A flock of various consultants and experts began circulating us, constantly telling us that our story was over. Everyone started offering us different ways to close the company most elegantly and make the most of the fall. ”
Explaining the payback process, the CEO added;
“We started to pay back the damage gradually. We transferred all the amounts we needed to survive naked into our users’ accounts. During the last three years, we have regularly waived profits. But we do not regret it, as it marks the beginning of a new era of growth and development for us. We no longer owe anyone anything. We have fully settled all tax liabilities, and 4,640 bitcoin is once again in our users’ accounts. We’re free! ”
Cryptocurrency hacks are certainly among the inevitable events that are likely to continue to challenge the security of the ever-evolving crypto market, but as the market matures, cryptocurrency scams are expected to surface at a lower rate .