BITCOIN WARNING - Fears hackers could EMPTY your wallet, but here’s how to stop them

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Bitcoin community is in awe as the news about another high profile cryptocurrency hack, this time in multi-algo mining pool Nicehash, spread through the Internet. First, a recap of we know so far: The funds were transferred in 5 transactionsthe first of them containing the bulk of the loot, approximately 4, BTC. That transaction was validated at block bitcoin wallet stolen filmon After that, the hacker did another 4 smaller transactions with lots of blocks between bitcoin wallet stolen film.

The last of the transaction was done just a few hours ago at block height Meanwhile, Nicehash has been offline and the first press release came out just a couple hours ago informing customers about the situation. These suspicious transactions were done from block height Thus it is evident that someone or something script? But why the hacker needed do this? Why spend time doing so in many different blocks?

Nicehash has posted a nice visualization of transactions related to the notorious hack incident. These questions, among others, are already being debated by the miner community as Bitcoin wallet stolen film is offline for almost 24 hours. And there are also miners that point out the fact that Nicehash was not lowering the 0.

Of course, nobody knows yet what has actually happened and it is probably too early or too easy to talk about an inside job. Bitcoin wallet stolen film has announced it is already working with authorities and law enforcement to find out what happened. So we should wait before jumping to conclusionsas Nicehash had a clean record until now and many miners were more than satisfied with the service.

The only thing that is sure by now, is that Bitcoin is the new gold and as such it bitcoin wallet stolen film targeted by thieves as it bitcoin wallet stolen film happening in the Wild West with the precious metal many years ago.

Please click here if you are not redirected within a few seconds. Some obvious questions arise: How did the hacker managed to control the wallet for such a long time? Why nobody stop him from performing at least the latest transactions? Nicehash Individual Users Talk About "Inside Job" These questions, among others, are already being debated by the miner community as Nicehash is offline for almost 24 hours.

Some negative memes have been also posted like this obviously making joke of Nicehash. What do you think? This article should not bitcoin wallet stolen film taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general. How Bitcoins Are Distributed?

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Blockchain open source project

Leaders of the open-source virtual currency project known as Bitcoin say they have no way to verify one user's claim that hundreds of thousands of dollars worth of digital coins were plucked from his computer earlier this week. Allinvain speculated the thieves made off with the windfall after using malware to compromise his Windows-based computer.

More than posts later, it's still not clear if the claims are part of an elaborate hoax. Because Bitcoin is built on a peer-to-peer foundation that completely bypasses any sort of centralized database, it's impossible for even the architects of the digital currency to verify if a theft took place. Still, the claims highlight the darker side of a completely decentralized digital currency that's built from the ground up to be as anonymous as cash.

Long considered the Holy Grail of futurist libertarians because it can't be traced by marketers or governments, the system has no mechanism to trace the types of digital heists that are becoming a common occurrence these days. One can say many of the same things about cash, but there are a few caveats: It's typically not possible to store hundreds of thousands of dollars in a "wallet," digital or otherwise, and traditional wallets aren't protected by anything like the Windows operating system, which is notoriously susceptible to online criminals.

Cash also can't be stolen remotely by someone who's physically located half-way around the world from the victim. What's more, cash stored in bank accounts or paid using credit cards is often protected by guarantees from government agencies, such as the Federal Deposit Insurance Corporation, or card issuers, such as Visa. Those, of course, are the same boogeymen virtual cash-loving libertarians want to bypass in the first place.

So the loss is in terms of USD is more a theoretical value. The Register - Independent news and views for the tech community. Part of Situation Publishing. Join our daily or weekly newsletters, subscribe to a specific section or set News alerts.

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Vietnam bans Bitcoin as payment for anything What is it with mostly single party states and crimps on cryptocurrency? Low-code platform provides fast delivery, innovation and a great user experience. By thinking proactively about DDoS defense, organizations can build a comprehensive strategy to mitigate attacks.

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