Hack Resolved: Genesis Mining Resumed Your Pay-outs!
Good news to all Genesis Miners: Genesis Mining company has resumed its pay-outs including the payments due between 21-26 July.
This comes after the popular cloud mining company first stated via email it had technical problems due to the large influx of customers in the past month:
“Due to a high demand and ongoing maintenance, we have been experiencing some technical difficulties in the past 2 days. As a result, user balances were not shown correctly and the functionality of the website was reduced. Our IT Team has resolved this issue and everything should be in order now. Payouts for missing mining days will be updated within the next 48 hours.
We apologize for this delay. Thank you for your patience and understanding”
They provided this explanation only to people directly confronting them with the lack of pay-outs.
Later it turned out that Genesis Mining was hacked. On their blog Marco Streng, CEO, states:
”On the night of Friday July 21st, we detected an unauthorized intrusion by an attacker. This attacker gained access to a hot wallet and was able to transfer funds which we will reimburse in full. Shortly after the intrusion was detected, our team was able to shut down the attack. We immediately took steps to mitigate the issue, including enhancing our monitoring and detection capabilities, and further hardening our environment. One of those increased security measures was to delay our daily payouts.”
Maybe most importantly though is that apparently there was no evidence a loss of sensitive user information and things are returning to normal. Payments have resumed and you should see multiple payouts on a daily basis for the next few days.
From my perspective, I can confirm that they pay-outs have indeed resumed as the payouts tab is being populated and I have received them in my wallet.
Good luck to all of you miners out there!
By the way, in the event you are looking to mine with Genesis Mining, don't make the same mistake I did and be sure to enter a referral code. This can be obtained from anywhere on the internet as a lot of people provide theirs. If you want one now, feel free to use mine: IWtw9v
This would give you a 3% discount on your contract costs (and me a 2.5% increase on my hash power for the next few months).
Good luck and happy trading!
Sources:
http://blog.genesis-mining.com/genesis-mining-service-update
I like photo
Thanks ;)
I'm glad I came across this post. I was new to joining Genesis Mining and I was wondering why the payouts for taking so long. This makes a lot more sense. :-)
Great to be of help. What are you mining and when did you start first?
Right now I'm only mining ETH and DASH.
I'm just under two months of using the service.
For some reason it hasn't let me do any upgrading with fiat money. It'll only let me use crypto currency to upgrade. Is this something that you're seeing or hearing about?
Hi Ryan, no this is the first time i am hearing about it. The functionality seemed to work on my side when going through the upgrade process with fiat money last month, but I did't complete the order. Did you create a ticket?
No, I didn't realize I could open a ticket for that.
Do you happen to know where that's located on the site?
yes. under "My Account". Then "Contact Customer Service". This will basically generate an email trail of your issue. Good luck!
Thanks, that was really helpful. =)
Great article! I have a friend who have spent around 5k€ 6 months ago, needless to say he wasn't feeling particularly well during the last few days haha
I wish cloud miners could be a bit more rewarding, I've heard multiple stories about scams and deceptions over not getting your ROI at the end of contracts most of times because of the increasing difficulty of mining the coins
Thanks. Yes quite a few turn out to be unsuccessful or even scams. Talking about scams, look at my article about QRL, that one is just unbelievable. Or maybe not unbelievable, but I almost invested in that after listening to a podcast with them and reading about their product....
Yeah, unfortunately i've heard too many times this kind of news and that's clearly & obviously not a good thing for the reputation of ICO's (while I'm planning to do my own ICO later on this year... great news again indeed...)
I think that's the worst case, when it seems stable and trustul at the begining, and that as soon as money comes in, some people become greedy (maybe they planned their strategy alone beforehand, which makes them a bigger piece of s***)
I fear that if too much scams are happening, governments will regulate them tightly (which is not what we want in a first place for a decentralized project)
Very interesting to hear about your own ICO. Can you tell me more about it? Is it a serious undertaking or more like a pet project?
Actually I have several projects in preparation, a pretty big one with a team I gathered and several smaller (& personnal) projects. And to raise funds I'm more and more heading towards the ICO process for my main project, which will use the Blockchain, and some Cryptos at a method of payment.
I'm afraid at this stage I can't talk too much but all I can say is that I really hope we will disrupt the transportation industry to improve daily lives of people with less transportation density (at our modest scale when we will begin, I'm not cocky to pretend we're Uber or any big transportation company) ;)
But don't worry as soon as we will move closer to the ICO, I'll make a big announcement EDIT: IT WILL NOT BE A SCAM!!! hahaha
I will surely try a small scale ico for my personnal project, and document everything on Steemit, so catch me up on this one ;)
Do you have others interrogations for ICO's I can try to answer?
No further questions, but a request, let me know when you get this thing off the ground or when you can say more about it. i ma intrigued. Lets hope the appetite for ICOs doesn't wane in the meantime
no worries I will, I think that's gonna be official before the end of the year, be prepared haha
I agree, I guess it will all depends if scams are ramping up or not in the meantime (I hope it will not obviously)
I'm totally convinced that ICOs are a great alternative and disruptive way to raise funds.