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Bitcoin marketplace NiceHash hacked, over $60 mn lost

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Bit Coin

San Francisco, Dec 7: In a warning for those who wish to invest in Bitcoins to make some big bucks, the cryptocurrency mining market NiceHash has revealed hackers wiped out its entire Bitcoin wallet, resulting in over $60 million loss.

“Unfortunately, there has been a security breach involving NiceHash website. We are currently investigating the nature of the incident and, as a result, we are stopping all operations for the next 24 hours,” the marketplace said in a statement late on Wednesday.

“Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken,” it added.

Coindesk reported on Thursday that the loss is about 4,736.42 Bitcoins, worth more than $60 million.

“Are we going to get our btc? or might as well just forget it. Your press release said nothing about sending us what you owe. I have 4000$ stuck in your wallet which is now almost 4300$,” tweeted a user named Lohit.

Another NiceHash user Philip Richardson tweeted: “If I dont get my btc back i will never use your service again”.

Earlier in the day, the value of one Bitcoin had crossed $14,000, a new record high for the cryptocurrency.

Bitcoins are created through a complex computer process known as mining, and then monitored by a network of computers across the world.

A steady stream of about 3,600 new bitcoins are created a day – with about 16.5 million now in circulation from a maximum limit of 21 million, BBC reported.

“Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency,” NiceHash said.

The company recommends users to change their passwords – both on NiceHash and other services.

The incident brings back the memories of the 2014 implosion of the “mtGox” Bitcoin marketplace which lead to losses of millions of dollars.

In India, the Reserve Bank of India (RBI) this week cautioned the “users, holders and traders” of Bitcoins about the security related risks associated in dealing with such virtual currencies (VCs).

The apex bank reiterated its stand that “it has not given any licence or authorisation to any entity or company to operate such schemes or deal with Bitcoin or any VC”.

“In the wake of significant spurt in the valuation of many VCs and rapid growth in Initial Coin Offerings (ICOs), RBI reiterates the concerns,” the central bank said in a statement.

IANS

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Markets open on high note

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Sensex Nifty Equity

Mumbai, Nov 21: The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.

The Sensex of the BSE opened at 35,492.62 and touched a high of 35,492.25 and a low of 35,336.77.

It was trading at 35,421.80 down by 52.71 points or 0.15 per cent from its Tuesday’s close at 35,474.51.

On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 10,670.95 after closing at 10,656.20 on Tuesday.

The Nifty is trading at 10,667.20 points in the morning.

IANS

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Jet Airways is in active discussions with various investors’

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Kolkata, Nov 20 : In a bid to secure sustainable financing to navigate through current headwinds, Jet Airways is “in active discussions with various investors”, an official said on Tuesday in a message to the airline’s passengers.

“We are in active discussions with various investors to secure sustainable financing to navigate through the current headwinds and create long-term growth. There is interest in our strong brand and confidence in our business turnaround efforts,” the airline’s Chief Executive Officer Vinay Dube said in the message to its passengers.

 

Tata Sons, the holding company of the Tata Group firms, had said discussions on acquiring a stake in the financially troubled Jet Airways have been at a preliminary stage and that no such proposal has been made so far.

Dube said the airline reviewed its network and is “deploying aircraft on more profitable, productive and economically efficient routes”.

“With the peak season upon us, I am optimistic about our ability to build and accelerate revenue momentum even as we continue to review and improve our network,” he said.

“Last week we declared our Q2 results for FY 2019. The tough operating environment for the aviation industry continues to impact us, and we reported a net loss of Rs 1,261 crore,” he said.

“Reflecting on our ongoing efforts to reduce costs across the business, our relentless efforts to optimise costs have yielded over Rs 500 crore of savings in the first half of FY 2019.”

He also said the airline would take delivery of another six new Boeing 737 MAX aircraft this fiscal and will leverage the same for better cost efficiency.

The private airline launched new services such as the Mumbai-Manchester non-stop flight and will soon be inaugurating its first daily, direct service from Pune to Singapore, as well as adding services and frequencies on select routes such as Bangkok, Doha, Dammam, Dubai, Kathmandu and Singapore, he added.

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Sensex falls 300 points on weak global cues

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Sensex down

Mumbai, Nov 20: India’s benchmark stock indices followed their Asian peers lower on Tuesday, after an overnight slump on the Wall Street led by technology stocks.

The S&P BSE Sensex fell 300 points while the broader Nifty settled below the 10,700-mark.

“With regard to the RBI board meeting, the market drew relief from the fact that the stand-off between the government did not escalate. However, it was more or less a status quo, damping sentiments,” said Astha Jain, a senior analyst at Hem Securities.

All the 19 sectors on the BSE came under heavy selling pressure. The metal counters fell over 2 per cent, while healthcare, IT and TECK (technology, entertainment and media) declined over 1 per cent each.

The Sensex settled down 300.37 points or 0.84 per cent at 35,474.51, from its previous close of 35,774.88.

The Nifty50 lost 107.20 points or 1 per cent to finish at 10,656.20.

The Indian rupee jumped for a second day in a row against the dollar. It was last traded at 71.45 per dollar, 19 paise higher from the previous close of 71.64.

The benchmark Brent Crude prices also eased to $66.36 per barrel.

According to analysts, the rupee’s recovery was in line with the gains across the emerging-market currencies, which likely bottomed out on November 13.

“Some investors were betting that the rate-hike cycle by the US Federal Reserve was petering out and hence the main reason for the weakening of the emerging market currencies may no longer be valid,” said Deepak Jasani, Retail Research Head, HDFC Securities.

IANS

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