Ick nicehash down

Link:
https://www.wikitribune.com/story/2...eaks-out-after-60m-cryptocurrency-hack/27212/

In an exclusive interview with WikiTribune, Marko Kobal, the CEO of NiceHash – a Slovenian-based crypto-mining marketplace – said that his company is “working on a solution to ensure that all users are reimbursed” for the $60m hack that took place last week. He also added that due to the authorities’ ongoing investigations, he can’t provide any “further specific details on the breach”, but will issue regular updates.

WikiTribune broke the story that NiceHash may have been hacked around $60m, and the company posted an official statement shortly after confirming that it was true.

NiceHash is a place for users to buy “hashing power,” that is computing power for mining different cryptocurrencies such as Bitcoin. Mining is the process of adding transaction records to the blockchain – a technology that allows for anonymous and secure peer-to-peer transactions.

The $60m hack has divided the cryptocurrency community, with some believing it’s an inside job and blaming company incompetence. Others are choosing to stick with NiceHash, citing a lack of better alternatives.

WikiTribune sent some questions via email after the confirmed hack – a few of which were from Reddit users – to NiceHash to clarify the extent of the hack. Here is an interview with CEO, Marko Kobal. The transcript was edited for clarity.

Response to questions
Question: Users on Reddit pointed to a specific external wallet which has more than $60m on it. Can you confirm that this is the correct address?

Answer: That is correct, it is publicly available information on the Blockchain.

Q: Given that the stolen coins are visible to all, what realistic chance does the hacker have to hide, convert or spend these coins?

A: That’s a very good question. The fact is that the world is watching that address now. Hackers must be aware of that fact and due to co-operation with major exchanges there is also a chance that the coins will be confiscated if moved to an exchange.

Q: Is the hacker(s) holding these stolen bitcoins to ransom in exchange for an alternative or untraceable payment?

A: Due to the authorities’ ongoing investigations we can’t provide any further specific details on the breach right now but our aim is to continue to give updates to our community. We have opened a dedicated community for researchers and blockchain experts to help track and analyze the stolen funds. The address is here.

Q: What steps will NiceHash take to regain its customers trust?

A: The support we have received from our community during this crisis has been immense. We are truly moved by the tens of thousands of messages from our community of miners. We are taking all the necessary steps to re-establish our systems with bullet-proof security protocols, and enable miners to start earning money again.

We understand why everyone is upset, and we are truly sorry. We are taking responsibility and want to demonstrate the openness and transparency which is the cornerstone of the world in which we work.

We know we have to build up trust again, we know that, but the overwhelming majority of our community of nearly 750,000 registered users have been very supportive and want us to get the site up and running so they can start making money, mining and leasing again.

It will take time but we are working on a solution to ensure all users are reimbursed. That is clearly a key concern for our users, and we understand this, we are not running away from our responsibilities. As soon as we have a plan in place we will update all users on our intended solution, and we’re sorry for any inconvenience which has been caused.

We’re going to make sure that we learn from this and come back even stronger and safer.

Q: What’s the likelihood of the company covering more than $60m in losses? Are you able to compensate users?

A: We fully intend to make this right. It’s a matter of deep concern to us and we’re working hard to rectify the matter in the coming days. We’re working on a solution to ensure that all users are reimbursed. These things are delicate matters, and take time, so we would ask our community to be patient while we get this fixed and fully investigated. As soon as we have a full plan in place we will communicate it to our users and all those affected.
 
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Archaea MPHs dashboards are typically all screwed up when i check them, and it honestly bothers me to the hilt.

Zpool, i can at least tell what's being mined. I'm going to switch over to Zpool exclusively within a day or two to test out profits.

I don't think MPH is screwing anyone over, but it's very annoying to say the least.
 
mnewxcv said:
wasn't that with the money being mined? NH wasn't paying miners as much as miners were paying NH to orchestrate the mining process.
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NH operated on a 2% fee off the top of all transactions. 2% of payouts, 2% of mining power purchases. If they paid out over a billion in the last year then they made $20M+ just on payouts alone. They've been operating for 4 years. You do the math.
 
Riccochet said:
NH operated on a 2% fee off the top of all transactions. 2% of payouts, 2% of mining power purchases. If they paid out over a billion in the last year then they made $20M+ just on payouts alone. They've been operating for 4 years. You do the math.
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Thought it was 3% fee for both buyers and sellers. They paid out 10 million a week. So this hack was 6x full weekly payouts or perhaps considering just their gross profit of 3.6 million a week (who knows what operating expenses are and thus net profit) but let’s say half at 1.8 million. Maybe its 19 weeks worth of net profits??? So half a year? It’s a big loss.
 
atp1916 said:
Archaea MPHs dashboards are typically all screwed up when i check them, and it honestly bothers me to the hilt.

Zpool, i can at least tell what's being mined. I'm going to switch over to Zpool exclusively within a day or two to test out profits.

I don't think MPH is screwing anyone over, but it's very annoying to say the least.
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Also awesome miners profit switching algos are junk making it even harder to compare to what we made with nicehash.

Seven 1080ti were mining with awesomeminer for equihash at $35 a day all last night. (At least every time I checked). I saw A friends message that his 1080ti machine was mining neoscrypt for significantly more money. I manually stopped the equihash job this morning, re benchmarked neoscrypt and the result was within a hundredth if a percent of my previous benchmark in awesome miner. So I figured it would likely just go back to equihash in restarting the miner with the auto select function already (and previously engaged). No, it went to neoscrypt and profits now were $56 per day. A $21 per day jump spread over 7 cards. I think awesome miners auto switching algorithm processes are completely borked. Probably better to watch whattomine and manually pick your algorithm each day. I keep seeing this with awesome miner, even among the well known algos. Previously it would sometimes select the absolutely junk profit algos until I outright disabled all of those. I’m talking about algos where a whole rig of 12 cards was making $4 a day. Sigh. Has anyone else tried anything new with success. I’ve read on the forms that multipool miner might be preferred to awesome miner but Multipoolminer states it only uses max six cards.
 
I had to set custom hash rates for algo's in the Profit Profile for my cards. Benchmarking just didn't work. Since doing that Awesome Miner has been pretty good with selecting the most profitable coin to mine. Also, set the switching interval to 10 minutes. It's 30 minutes standard, so, you could be losing money for a good amount of time before it switches.

It'd be nice if there was an option to update the profit profile algo hashrates while mining. Why it won't just save the actual hashrate is stupid.
 
I really think that NH has incentive to make this as right as they can. I thought the one that did the live face book
stream was a bit conceded. Really though i am sure the entire team is under an extreme amount of stress.

A lot of whining about how long its taking to get it back up. I rather them take the time now then half ass do it. Another
breach of any kind will be the death kneel for the site.

If anything this past week shown me how valuable the service was to me. I have my 3 machines, lightweights compared to most
doing straight pool mining. Figuring that out took way way longer and to many risky downloads for my liking. I feel like 1/2 the pools
are ripping me off. Like nano pool. They set the payouts so high that a small miner will be old and grey before it ever gets close.

The vertcoin pools i tried where hit and miss. I finally settled on Yipp. It has no front end at all so the only way i can tell if things are
going good is when i get the payout to my wallet. At least they payout every 3 hours or so. Though it did skip once.
 
Archaea said:
Also awesome miners profit switching algos are junk making it even harder to compare to what we made with nicehash.

Seven 1080ti were mining with awesomeminer for equihash at $35 a day all last night. (At least every time I checked). I saw A friends message that his 1080ti machine was mining neoscrypt for significantly more money. I manually stopped the equihash job this morning, re benchmarked neoscrypt and the result was within a hundredth if a percent of my previous benchmark in awesome miner. So I figured it would likely just go back to equihash in restarting the miner with the auto select function already (and previously engaged). No, it went to neoscrypt and profits now were $56 per day. A $21 per day jump spread over 7 cards. I think awesome miners auto switching algorithm processes are completely borked. Probably better to watch whattomine and manually pick your algorithm each day. I keep seeing this with awesome miner, even among the well known algos. Previously it would sometimes select the absolutely junk profit algos until I outright disabled all of those. I’m talking about algos where a whole rig of 12 cards was making $4 a day. Sigh. Has anyone else tried anything new with success. I’ve read on the forms that multipool miner might be preferred to awesome miner but Multipoolminer states it only uses max six cards.
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is there any software that can calculate profit based on power draw? I feel like some of these coins are more efficient to mine than others, and therefore just looking at raw mining 'profit' may be skewing the actual profit. Also, sorry if it's been stated already, but in what currency/coin does awesomeminer pay out?
 
mnewxcv said:
is there any software that can calculate profit based on power draw? I feel like some of these coins are more efficient to mine than others, and therefore just looking at raw mining 'profit' may be skewing the actual profit. Also, sorry if it's been stated already, but in what currency/coin does awesomeminer pay out?
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You can set your power draw in Awesome Miner per algo, but i'm not sure if it takes that in to account when calculating profitability. It pays out whatever the pool you connect to pays out. It's just a miner, the pool does the payments. MPH can pay you in the coins you mine, or use auto-exchange to convert your mined coins to any of the coins in their pool. I have mine set to pay me in BTC.
 
mnewxcv said:
is there any software that can calculate profit based on power draw? I feel like some of these coins are more efficient to mine than others, and therefore just looking at raw mining 'profit' may be skewing the actual profit. Also, sorry if it's been stated already, but in what currency/coin does awesomeminer pay out?
Click to expand...

Awesomeminer doesn't pay anything. It's a manger for the different miners. Whichever pool you're submitting shares to determines the payout coin. Most of them will pay the coin you're mining, but MiningHubPool at least allows you to convert all of your mining effort to your favorite coin.
 
atp1916 said:
They can, but perhaps not immediately.

NH has done little to sway my opinion that they are in any form a dishonest company.
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they don't nothing to prove they're an honest company though. They're clearly stalling and not being up front about anything. It took them too long to say anything at all.
 
Coinbase suspending LTC trading completely screwed my day trading schemes.

I guess it means I am not the only one doing what I was doing.

That 7950 I paid 17 LTC for on here has started laughing at me every time I look at it now. I may be losing my mind, again.
 
stealthballer123 said:
Coinbase suspending LTC trading completely screwed my day trading schemes.

I guess it means I am not the only one doing what I was doing.

That 7950 I paid 17 LTC for on here has started laughing at me every time I look at it now. I may be losing my mind, again.
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I cry a bit every time I think about past transactions but the one I found just yesterday is haunting me. There was a shitcoin europecoin that I mined a few years back. Apparently had a ton of it on bittrex which i logged onto for the first time in what I thought was a few years. Only to see this past april I sold that shitcoin for .08BTC and cashed that BTC out. The numbers on that shit coin when I checked the exchange would have been worth a bit over 1BTC yesterday when I looked. back when I sold it I had no need for that small amount of money at all. If I would have just sat on either that .08 btc or that pile of shitcoins I would have walked into something that would make me very happy to "find".
 
I had earlier mentioned that I liked using Kraken.com as an exchange, I don't remember which thread it was, I think it was here.
I do not recommend it any more, it's unusable pretty much now. Random sales don't go through, cancelled sales randomly go through. It's turned into a nightmare to manage and I will be getting my holdings out of there soon as I can.



Aside from that, i think bitcoin is about to move to 20k
and xrp might be making a run up

edit: now Coinbase suspended eth trading, wonder if this is tied to update last night or volume
 
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Heh, I gambled 1600 DASH on a Miss State vs Ol Miss game back in 2015 (and lost)...
 
I still see no way to get those funds back short of the person who has them to give them back.
 
I agree when i read it the first time. It seemed that recovering the funds where
going to be tied into peeps getting the BTC back. Wonder if that is the angle they
will pursue. How will that go over with the masses?
 
mkrohn said:
thats kinda the whole point of BTC isn't it?
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sort of. The point is that double-spending is impossible (almost); not being able to get coins back if they're stolen or sent to the wrong address is a side-effect of that that no one has figured out a secure way to achieve yet.
 
Archaea said:
Here’s how to see your dashboard on miningpoolhub and most importantly - your active workers

Put in this address:

https://miningpoolhubstats.com/index.php/USD/[your api code here which is found under account]
Click to expand...

What does the API key give the website access to? Is this run by the same people that run the pool site? And I'm guessing that's your API key embedded in that link? Wonder what I can do with it. :p
 
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Appreciate the MPH + Awesomeminer tips in this thread, the NH reddit is neigh useless.

Now that it's been at least a few days... are you guys finding that the awesomeminer profitibility numbers are way off of the actual accruing balance on MPH? About 24h on a 1060 and I don't think I even have a $1 equivalent in Eth yet, people seem overall pretty happy with the switch but I'm still scratching my head. AM is around $2 plus or minus in the estimate when switching but I think my ETH is around 85 cents worth right now. I get that it's a rough estimate and there's a little lag but it sure doesn't feel as "profitable" as NH was.
 
I've made about $85 since Friday evening, and that's with me constantly dicking with things and playing a couple of games. I gave up on awesome miner and just use MPH's autoswitching ports and a looping script to switch when the pool switches. Claymore and ccminer quit mining when the pool deauthorizes my workers after switching, but EWBF keeps mining. So I have to put in a 10 minute timer to kill it and let the other algos cycle through to make sure it hasn't switched.
 
I don't know about Awesome Miner with MPH just yet. Only been 2 days and my stats don't look promising. I think I was making more with NH, but I could be wrong. I'll let it ride for another few days and see what happens.
 
sniffdogminer guys.

Its a powershell script that monitors zpool, MPH, ahashpool, hasrefinary along with a pile of Nvidia algorithms. It benchmarks your cards and then monitors profit per algo at those 4 pools and profts switch algos and pools. After benchmarking you can remove the pools you don't want.

When you start it, it will download several versions of ccminer for the different algos and away it goes.
 
Well, according to MiningPoolHubStats website I've mined $5.64 in the past 24 hours. This is with a single 390X.

Having a tough time believing that, though it's possible. I used to average $2-3 per day with NiceHash on the same card. If those stats are true then, shit, I'm a happy camper.
 
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