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4,640 bitcoins are again in our users’ accounts, says NiceHash CEO on hack reimbursement

4,640 bitcoins are again in our users' accounts, says NiceHash CEO on hack reimbursement

NiceHash announced completion of its repayment program after almost three years. The firm repaid 4,640 Bitcoins to its users who were targeted in the 2017 hack. The firm had expected to complete reimbursement sooner; however, poor crypto markets made it difficult for the company to do so.

The repayment now coincided with the current Bitcoin rally with prices reaching a new all-time high of $23,000. NiceHash team said that its users would see the status of the repayment program in their wallets. NiceHash operator H-BIT launched the reimbursement program in February 2018, which was funded from commissions and profits, which said:

Nevertheless we have remained committed to our initial promise to reimburse the stolen funds in full.

On 6 December 2017, NiceHash said the contents of its Bitcoin wallet had been stolen in a security breach after the perpetrators reportedly hacked an employee’s computer.

NiceHash head of marketing Andrej P. Škraba said in a report that the hack was “a highly professional attack with sophisticated social engineering.” The firm revealed that as a result of the hack, it lost 4,640 BTC worth about $64 million at the time.

Additionally, Martin Škorjanc, CEO of NiceHash explained in a letter how “consultants and experts” told the firm to shut down the company “and make the most of the collapse” after the hack. He also added:

At the time, our company became the victim of the largest theft in Slovenian history. Still unknown criminals stole 4,640 Bitcoins from our users, worth 55 million at the time and over 100 million US dollars today.

According to the CEO’s letter, the hackers’ identity is still unclear. Moreover, even Europol and the FBI investigated the cyber hack at NiceHash but the perpetrators were still not found.

Thanking his users for their trust, Martin Škorjanc further said in the release that the platform was now among the safest cryptocurrency markets in the world, and that they had “fully settled all tax liabilities, and 4,640 bitcoins are again in our users’ accounts.”