Nicehash, exit scam? - page 2. | Bitcointalksearch.org

CyberKuro

hero member

Activity: 798

Merit: 506

Quote from: TryNinja on December 06, 2017, 06:17:33 PM

Quote from: Immakillya on December 06, 2017, 06:06:21 PM

They have been hacked and lost huge amount of Bitcoins https://bitcointalksearch.org/topic/nicehash-the-mining-service-got-hacked-and-lost-4450-bitcoins-worth-60-million-2537342 They messed up big time. All of investors are screwed up. They have weak security that why hacker stole funds from them. I don't think nicehash will be able to recover that huge amount. This is bad. They've been down for many hours now or even a day now. They said it will open soon. But i don't think they will be back. This is their exit. This is why i don't trust cloudmining. It's a shady business.

Well... I woulnd't exactly call them a "cloudmining". You are basically selling your hash power (from your hardware) to them and not buying a mining contract. A business could keep going with this forever without having to exit scam, so they could be telling the truth. But obviously we can't say for sure that this wasn't an inside job.

I'm just glad that I decided to not play around with my GTX 1070 and mine with them.

Indeed, nicehash isn't cloud mining, even genesis as cloud mining better than them at this point.
BTC4450 is a big amount for a mining service but the most important how they will recover the funds as customers won't cooperate with them anymore anytime soon.
Unless, they have huge amount of bunch altcoins such as eth, xmr or dash to cover all the lost fund as most of their activities are mining altcoins.

RGBKey

hero member

Activity: 854

Merit: 658

rgbkey.github.io/pgp.txt

Quote from: figmentofmyass on December 06, 2017, 06:24:41 PM

Quote from: Immakillya on December 06, 2017, 06:06:21 PM

They have been hacked and lost huge amount of Bitcoins https://bitcointalksearch.org/topic/nicehash-the-mining-service-got-hacked-and-lost-4450-bitcoins-worth-60-million-2537342 They messed up big time. All of investors are screwed up. They have weak security that why hacker stole funds from them. I don't think nicehash will be able to recover that huge amount. This is bad. They've been down for many hours now or even a day now. They said it will open soon. But i don't think they will be back. This is their exit. This is why i don't trust cloudmining. It's a shady business.

there is no way they can recover from this. and i find their announcement very disturbing. if i am reading this correctly, they kept most or all of their BTC in a hot wallet. what kind of legitimate operation stores thousands of BTC on an online server in this day and age?

for that reason, it appears to be an exit scam. they are trying to appear incompetent to make off with millions of dollars and go live on an island somewhere. this is the classic exit scam formula we have come to recognize in this space.

Quote from: Darooghe on December 06, 2017, 05:02:17 PM

I think they want to perform BTC-e's trick by saying some coins and money lost forever. So offer us taking some percents of our balance and be satisfy! After that they will do their business by new brand.

i don't think it's the same as BTC-e. in that case, the US government immediately issued a press release about indicting BTC-e and arresting one of its alleged owners. i don't think BTC-e was an exit scam at all, and i was pleasantly surprised when they partially refunded customers. they've also refunded ~10% of the debt tokens they issued to cover the losses.

I agree that it looks kinda fishy to me. Coming from a group of people that have literally been re-writing mining software, which is no easy task, you would think that they would be competent enough to have good security.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: Immakillya on December 06, 2017, 06:06:21 PM

They have been hacked and lost huge amount of Bitcoins https://bitcointalksearch.org/topic/nicehash-the-mining-service-got-hacked-and-lost-4450-bitcoins-worth-60-million-2537342 They messed up big time. All of investors are screwed up. They have weak security that why hacker stole funds from them. I don't think nicehash will be able to recover that huge amount. This is bad. They've been down for many hours now or even a day now. They said it will open soon. But i don't think they will be back. This is their exit. This is why i don't trust cloudmining. It's a shady business.

there is no way they can recover from this. and i find their announcement very disturbing. if i am reading this correctly, they kept most or all of their BTC in a hot wallet. what kind of legitimate operation stores thousands of BTC on an online server in this day and age?

for that reason, it appears to be an exit scam. they are trying to appear incompetent to make off with millions of dollars and go live on an island somewhere. this is the classic exit scam formula we have come to recognize in this space.

Quote from: Darooghe on December 06, 2017, 05:02:17 PM

I think they want to perform BTC-e's trick by saying some coins and money lost forever. So offer us taking some percents of our balance and be satisfy! After that they will do their business by new brand.

i don't think it's the same as BTC-e. in that case, the US government immediately issued a press release about indicting BTC-e and arresting one of its alleged owners. i don't think BTC-e was an exit scam at all, and i was pleasantly surprised when they partially refunded customers. they've also refunded ~10% of the debt tokens they issued to cover the losses.

TryNinja

legendary

Activity: 2758

Merit: 6830

Quote from: Immakillya on December 06, 2017, 06:06:21 PM

They have been hacked and lost huge amount of Bitcoins https://bitcointalksearch.org/topic/nicehash-the-mining-service-got-hacked-and-lost-4450-bitcoins-worth-60-million-2537342 They messed up big time. All of investors are screwed up. They have weak security that why hacker stole funds from them. I don't think nicehash will be able to recover that huge amount. This is bad. They've been down for many hours now or even a day now. They said it will open soon. But i don't think they will be back. This is their exit. This is why i don't trust cloudmining. It's a shady business.

Well... I woulnd't exactly call them a "cloudmining". You are basically selling your hash power (from your hardware) to them and not buying a mining contract. A business could keep going with this forever without having to exit scam, so they could be telling the truth. But obviously we can't say for sure that this wasn't an inside job.

I'm just glad that I decided to not play around with my GTX 1070 and mine with them.

Immakillya

sr. member

Activity: 560

Merit: 269

They have been hacked and lost huge amount of Bitcoins https://bitcointalksearch.org/topic/nicehash-the-mining-service-got-hacked-and-lost-4450-bitcoins-worth-60-million-2537342 They messed up big time. All of investors are screwed up. They have weak security that why hacker stole funds from them. I don't think nicehash will be able to recover that huge amount. This is bad. They've been down for many hours now or even a day now. They said it will open soon. But i don't think they will be back. This is their exit. This is why i don't trust cloudmining. It's a shady business.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Quote from: Darooghe on December 06, 2017, 05:02:17 PM

I think they want to perform BTC-e's trick by saying some coins and money lost forever. So offer us taking some percents of our balance and be satisfy! After that they will do their business by new brand.

I just read their post an hour ago on their facebook page https://www.facebook.com/NiceHash/posts/2012613285624474

A lot of coins has lost and I'm not comfortable with their statements. Before they are only saying that they are undergoing some maintenance and what's with that maintenance now?

They have been breached, why not they just admitted in the first place that their security is too weak for their hot wallet to cover. Their credibility is being at stake now and for sure this will damage their service if ever they want to continue again.

Darooghe

sr. member

Activity: 1120

Merit: 255

I think they want to perform BTC-e's trick by saying some coins and money lost forever. So offer us taking some percents of our balance and be satisfy! After that they will do their business by new brand.

Topic: Nicehash, exit scam? - page 2. (Read 798 times)