NiceHash disables crypto withdrawals, burning miners as crypto crashes

NiceHash has disabled wallet withdrawals, blames 'attempted intrusion' into their network... right as crypto prices collapse.

@anthony256
Published Wed, May 19 2021 3:22 PM CDT   |   Updated Wed, Jun 16 2021 7:47 PM CDT

Update: Now the entire mining dashboard is broken for me, I can see all of my mining rigs but they're all disabled/off in the eyes of NiceHash. The "current actual profitability calculator is still ticking away in real-time, as well as my unpaid mining balance. But there's some funny stuff going on with NiceHash right now.

NiceHash is the world's leading cryptocurrency platform for mining and trading, and in the middle of a gigantic crypto crash the company has halted any and all crypto wallet withdrawals and people are pissed.

I noticed it myself personally when I refreshed my NiceHash dashboard and noticed the new blue bar at the top that reads: "Wallet withdrawals are disabled as per our security protocols. Please read this article for more details". Well, right in the middle -- in the exact moment that the crypto market crashes and hundreds of billions of dollars is wiped off the market -- NiceHash is hacked and wallet withdrawals are disabled because of it.

NiceHash explains: "The attempted intrusion was quickly detected and effectively prevented by our security team, but there remain several measures we must follow in such incidents. This was a targeted attempt by highly sophisticated actors using zero day exploits, and as such it is not in anyone's interest that we rush to resume, until the external security investigations are completed".

The company says that it wanted to emphasize to all of its users that "this incident has been mitigated and all user funds and data are safe. The attempted intrusion was unsuccessful, and NiceHash will resume all withdrawals as soon as we can".

You can read the full post on NiceHash's website.

NiceHash disables crypto withdrawals, burning miners as crypto crashes 06 | TweakTown.com
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As for the people aren't happy about it, the official NiceHash Twitter account posted about the incident, and the replies aren't so welcoming:

NEWS SOURCES:nicehash.com, reddit.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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