Genesis mining has stopped to pay since Nicehash was hacked, coincidence?

in cryptocurrency •  11 months ago

GenesisMining.jpeg

On the 6th of December nearly $64m in bitcoin has been stolen by hackers
who broke into Slovenian-based bitcoin mining marketplace NiceHash.

The marketplace suspended operations on Thursday while it investigated the breach, saying it was working with law enforcement as “a matter of urgency” while urging users to change their passwords.

The hack was “a highly professional attack with sophisticated social engineering” that resulted in approximately 4,700 bitcoin being stolen.

Nicehash.png

Hacked.png

On the other hand Cloud mining Provider Genesis-Mining stopped to pay their members since 7th of December.

So far there is no Statement from them.

Genesis mining never revealed for what mining Pool they are mining.

If you check the biggest Pools in the World, Genesis mining doesn't have their own pool....

Mining Pool.png

And Genesis Mining started years ago as well in Eastern Europe
CEO Marco Streng tells the Story here:

So just coincidence? Or are Genesis Mining and Nicehash cross-linked?

So is the Hack on Nicehash the reason why Genesis Mining
doesn't pay their members since the 7th of December?

Whats you Opinion on it?

UPDATE: Right now I see some unconfirmed transactions on my Wallet, looks like they start to pay again... :)

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I did get a payout from my Ethereum contract with Genesis Mining yesterday.

But no other payouts.

Thanks for posting this information!
Steem on,
Mike

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good sharing

I just got my BTC mining payout from the 8 December mining day.

I really hope it's just a coincidence!

and they did it again genesis mining is having low trust factor why they do this again and again

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Just to let you know... I just got my BTC payout from Genesis Mining for the 8 December mining day.

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Awesome and one more thing is it really good for long term

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I just got today's BTC payout. Although Genesis Mining does not always communicate payout issues, I am all caught up on BTC mining payouts at this time.

There have been several times in the past when payouts have been delayed. As I understand it, Genesis Mining does an audit of the payouts before pushing them out. I can imagine with the recent run-up in BTC, the BTC mining payouts needed a little more scrutiny during an audit.

If you are planning to invest in any crypto-mining contract, you need to weigh the cost of the mining contract versus payout against just holding crypto-currency.

At this moment it looks like holding crypto-currencies (with the rapid rise we have seen) is better than investing in mining.

As for myself, I do plan to invest a bit more into BTC mining contracts when they become available (hopefully soon, but likely next year, 2018).

Have a fantastic week!
Steem on,
Mike

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Thanks for your sharing your knowledge on this one i feel like holding is way better now :)

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Completely agree. As long as prices are appreciating like they are, holding on to BTC is a better move.

In the past my strategy was to buy upgrades when the price of BTC was near a high. Because in the past when BTC hit a high there was a sharp pull-back.

Have a great week!
Steem on,
Mike

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So why we are not seeing any corrections now a days or is it a old thing for bitcoin now i had experience whenever there was a ATH of bitcoin the sudden corrections comes after few days but now a day its on a bull run

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It is the adoption of crypto-currencies world-wide that is a driving force right now. Everyone knows to buy on the pull-backs, this could be why the pull-backs are not as severe. Of course if a major exchange is hacked again, then that could cause a sharp pull-back in price.

In terms of the world-wide population getting into crypto-currencies, it is estimated that we are just about to leave the "innovators" phase of penetrating the entire market.

Over the Thanksgiving holiday, many people told friends and family about how they have been making money in crypto-currencies. That started a wave of people signing up on exchanges and buying the main three: Bitcoin, Litecoin, and Ethereum.

Get prepared for another wave as those people tell their friends and family about crypto-currencies and the spectacular run they have seen since Thanksgiving.

As people gather for the holidays at the end of the year, they are going to hear about crypto-currencies and the stories of wealth generation. This will cause an even a greater number of people to signup on the exchanges and buy the main crypto-currencies.

And those who got into crypto-currencies over Thanksgiving will be learning more about the alternative coins which will cause them to rise in value too.

Take a look at the adoption curve. The acceleration of people into crypto-currencies is just beginning.

You are very fortunate to be one of the "innovators" in this space and you will reap the rewards for your forethought.

Have a fantastic week!
Steem on,
Mike

that's great to share ....
for increase our consciousness..

thank's to share us..

love it

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You are welcome :)

Quite possible actually.

And very annyoing for sure as I failed to find any statements.

I waited for xmr mining I had with them after their security breach in June or July ( dont quite remember) for 4 to 5 months without any real respoonds from their support.

I am not a happy camper....

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My opinion is, and has always been, that all cloud mining is a scam, and the only individuals who prosper from it are huge personalities who rake in thousands of referrals.

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Yeah their Support sucks Big time, BTC payments so far in the past was ok, but this silence since the 7th of December from them is killing me.... I am way more happy with Bitcoinvest, their Support is Superb !

https://steemit.com/bitcoin/@elyaque/like-to-have-some-bitcoin-open-end-mining-contracts-now

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I am done with clould mining.

I paid with BTC would be way more profitable to just HODL. But the greed....:-)

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Exactly @flipstar, all of these programs just take your Bitcoin, get rich off of it, while you wait for your payments... fuck all those programs!

I think that is winderful news for all crypto currency users...
Wel done and perfect work @elyque
Cheers~~~

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Umm... did you read this article?

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hahaha, I tought the same....

nice topic, very good information,thanks for sharing

It has been said times without number, never leave your coin in an exchange. It is quite risky indeed.

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Exchange? Both are Cloudmining Services....

Probably they are connected.

Valuable information and important introduction of Cloudmining Services.

I do not get any payout since the 7 also. It's kind of annoying always with GM. I hope the payments come back without problem. Btw, how it is with Bitcoinvest? I opened an account yesterday there beause a friend told me is ok. Still wondering ...

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So far I can't complain! They have open end contracts, and the Support is amazing! Very friendly and fast ! Really happy with them.

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I saw that they are Germans (I live here too)and they have an address and they are already a GmbH (legal company) and that gives me confidence. I think I'm going to put something in there then Thanks a lot for the tip :)

Edit: sorry I can not use ur name as referal, used my friends name yesterday when made the account

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No prob, do you live close to their adress? I am far away in Venezuela....

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Well, not so close, I live in Berlin. They are in the West but I can be there in 4 hours if necessary ;) Have you been able to see the pool of them? They talk about it but, no idea how to look for it.

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They using BITMAIN's Antpool

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Got the payments for the 8th ... at least they are comming again ;)

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yeah got 2 payments too today

this looks quite suspicious :)

Well explained cloud mining..Thank you @elyaque.

so sad, someone gain and someone loose!

maybe its just a coincidence

Great information thanks for sharing.
Thanks @elyaque
have a nice day

Great information of Genesis Mining
100% like and resteem

Excellent post
Upvote Resteem

Great news
For your post propagation.
Upvote/Resteem

wow is a coincidence there great value on bitcoin is great

I recived a payment from them on 7 of December my next one should be on 12...

such a valuable post and very useful info
(((( Restem service)))))

That's a interesting and helpful video.............thanks for sharing

good

Maybe genesis went down because they were warned by nicehash of specific loopholes and were trying to cover them before their coins were stolen too? Glad to hear genesis is paying again.

I've got payouts from Genesis Mining that are more than 150 days overdue. I still have not had any answers from support. They seem to be ignoring the issue.

Excellent article. thanks for sharing
Upvote Resteem

Hope they don't ran away

still unavailable damm what is this going on

hackers have done a impact that is unbearable

problem with genesis started again huhh

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great update that you are seeing some unconfirmed transactions back again ;)

Lets hope they return to work soon :)

nice topic, very good information,thanks for sharing and they did it again genesis mining is having low trust factor why they do this again and again

genesis is not running away they had issues in the past too

i don't think they are cross linked to each other but anyways thanks for the update

That's an amazing useful article. ... great job

the payments are coming smoothly

It has been said times without number, never leave your coin in a trade. It is very dangerous to be sure.

It was a very planned robbery friend, I hope that they catch the responsible ones that will not be easy task for they know what they do greetings friend thanks for the information

I hope it's just a coincidence.

Look forward to getting a badge from you soon

Fantastic post friend greetings

Waw.. thanks for information

Good post
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this news is very useful for us. I hope you are share continue

Hello mate where are you it's beena long time since your last post everything goes well with you?

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May be due to some kind of upgrading