Cryptocurrency Mining Market NiceHash Hacked $70 million stolen.

Nicehash, the largest Bitcoin mining marketplace, has been hacked, which resulted in the theft of more than 4,700 Bitcoin worth over $50 million at the time of breach. The breach was Highlighted on Reddit and Twitter . In less than 24 hour that stolen bitcoin worth more than $ 70 million. Nicehash, founded in 2014 is a cloud based crypto-mining marketplace that connects people from all over the world to rent out their spare computing power to other in order to create new crypto coins.

On Wednesday, several Nicehash users reported that their BTC wallets had been emptied, which was later confirmed by NiceHash after its service went offline claiming to undergoing maintenance.

NiceHash service is still offline with a post on its website, confirming that “there been a security breach” and that hackers stole the contents of Nicehash Bitcoin wallet.

The company did not provide any further details about the security incident, but it did say that NiceHash has paused its operations for next 24 hours while it figures out exactly how many numbers of BTC were swiped from its website and how it was taken. Nicehash has not confirmed the number of bitcoins stolen from its virtual wallet but some of its customers have circulated a wallet address that suggests around 4,736 BTC- worth more than $70 million based on today’s price.

Nicehash is recommending its customer to change their passwords-both on Nicehash and other services, if they use same credentials. Nicehash is the largest cryptocurrency company to suffer a significant blow in recent months.