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Author Topic: Never trust Cloud Mining?  (Read 548 times)
kavkasieli
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December 07, 2017, 02:17:53 PM
 #1

So 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, worth about $63.92m at current prices, said NiceHash head of marketing Andrej P Škraba.
 
I have my investment done already in one company called bitforx, fingers crossed for all my savings!!
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December 07, 2017, 02:21:22 PM
 #2

Best is never leave coins on a exchange or mining pool.
Push regularly to your wallet.
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December 07, 2017, 02:25:30 PM
 #3

Best is never leave coins on a exchange or mining pool.
Push regularly to your wallet.
What is your recommendation for wallet which is the safest. btc.com?
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December 07, 2017, 02:35:07 PM
 #4

In my mind safest wallet is Trezor or offline wallet.

https://trezor.io
https://www.bitaddress.org
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December 07, 2017, 04:03:34 PM
 #5

Haha sophisticated social engineering... Do you know what they mean by that?
-Good morning Sir, we are calling from the Interpol and investigating a group of hackers that were trying to put trojans on various company servers throughout the country and we have a clue that is leading to you. Could you give us all IP addresses you're using along with all the system details and make us a user password so that our analysts can search your server for these files?
-uh, sure!
-We'll have a technician at your place in an hour, sit tight!

 Grin


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December 07, 2017, 04:04:51 PM
 #6


I have my investment done already in one company called bitforx, fingers crossed for all my savings!!

Didn't know about the site you mentioned, but upon searching this is just a cloud mining site that was designed to steal with people's money. Anyway good luck with your deposits there hope you get your ROI asap.

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December 07, 2017, 06:14:21 PM
 #7

In my mind safest wallet is Trezor or offline wallet.

The trezor wallet is always going to be the safest one. But i am using a ledger, it is much more cheaper than the trezor, maybe twenty dollars less or so.

I bought a ledger and it is very noobfriendly, any one can use it and configurate it in just a few minutes.

The trezor is so weak, that is why i prefered the ledger because it looks more strong, maybe if it falls from your table the ledger would survive, but the trezor not, because it has a touch screen.

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December 07, 2017, 07:03:35 PM
 #8

Actually this suggestion about the cloud mining is does not need for us bro. Every people here already knows that cloud mining is just a scam attempt or ponzi schemes only. People newbie like you thinks that these kind of mining site is legit and go there to make money. But none of the coins they have earned from the cloud site finally.
Some legit sites still available in online like Genesis and Hashflare. These are good to have the contracts but the returns will reached to your wallet after long time. Just ignore the cloud sites when they are promoting anywhere that is enough.


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December 07, 2017, 07:43:40 PM
 #9

Bitforx ? Never heard that name

Quote
Considering security reasons, we do not disclose the exact location of our mining farms. We can say that for now our mining farms are located in Georgia were great majority of country`s produced electricity is coming from hydropower sources.
They haven't shared their location and also there is no information regarding their registration. If they are not registered than they can easily run away with our money, they have posted few pics of their mining farm but it needs to be verified first.

Cloud mining is just a big NO for me...

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December 07, 2017, 10:19:08 PM
 #10

In my mind safest wallet is Trezor or offline wallet.

https://trezor.io
https://www.bitaddress.org
Every offline and open source wallet which you're the holder of it private keys are safe wallet. However, safer wallet is not what should your concern because if human error occur when using a safer wallet, the wallet will got hacked and it how careful you're in terms of using and keeping the wallet that matters.

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December 07, 2017, 10:44:38 PM
 #11

I just want to know what will happen next, if they will compensate their investors for this big loss and lack of security on their platform. Personally I wouldn't blame all the cloud mining sites for security reasons, I don't know if all of them are too low protected like this one, but the main reason to don't like and trust cloud minings it's because they are unprofitable for investors, they know about it, but lure people to invest on them.

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December 07, 2017, 11:31:20 PM
 #12

So 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, worth about $63.92m at current prices, said NiceHash head of marketing Andrej P Škraba.
 
I have my investment done already in one company called bitforx, fingers crossed for all my savings!!
Thats a big loss however if you use the right wallet for that it shouldnt be  a problem thats why you should never trust any wallet that you know and has big risks on your money cause all cryptocurrencies dont support the insurance act. So goodbye to that huge amount of money lost by a day.

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December 07, 2017, 11:34:24 PM
 #13

because ussualy all cloud mining only ponzi scheme
whatever reason, someday cloud mining can scam, and owner run capital money investor

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December 07, 2017, 11:45:40 PM
 #14

It's been said here in forum and reminded many times that don't leave your balances on an exchange, web wallet or even in mining pools.

They are unsafe and now that they've hack too bad for those people that let their coins sleep on nicehash, you can't recover it and that's really making me feel sad.

But there's also some fault on nicehash's end, they hired a developer that has past hacking crime.

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December 08, 2017, 12:26:19 AM
 #15

It's been said here in forum and reminded many times that don't leave your balances on an exchange, web wallet or even in mining pools.

They are unsafe and now that they've hack too bad for those people that let their coins sleep on nicehash, you can't recover it and that's really making me feel sad.

But there's also some fault on nicehash's end, they hired a developer that has past hacking crime.
Not only many times but it being said for thousand times regarding on this matter. Dont invest on those cloud mining sites or any other investment which involves online. Anything has risk on losing up money just like on these kind of situations on where an incident of hacking do happen.Only risk always the amounts that you can afford to lose and dont go all in. Sad for those newly joined investors specially putting up huge amount.

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December 08, 2017, 09:26:32 AM
 #16

OMG! that is huge money how can the hackers simply crack down their wallets. I hear in many articles Bitcoin blockchain is not hackable, maybe the owners himself doing all these things in order to create a lot of panic about the cloud mining.
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December 08, 2017, 10:00:31 AM
 #17

So 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, worth about $63.92m at current prices, said NiceHash head of marketing Andrej P Škraba.
 
I have my investment done already in one company called bitforx, fingers crossed for all my savings!!

Nicehash is not cloud mining.

It was more of an exchange, which specialised in matching up buyers of hashing power with sellers(miners). Just like big exchanges such as bitfinex and cryptsy, apparently it got hacked and it is still unclear what they are going to come up with(repayment plan or not).

If you're talking cloud mining though, then yeah, always avoid. It's not profitable, and sites turn out scam all teh time.

Your Bitforx site that you invested in doesn't look legit at all to the eye. Hopefully it pays off but it's a gamble.

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December 08, 2017, 10:07:28 AM
 #18

Best is never leave coins on a exchange or mining pool.
Push regularly to your wallet.

Best is never invest your bitcoins on a cloud mining/mining pool! This typical cloud mining only works such 1-2 years maximum and when it comes into 3rd years, usually something bad happen like hacked by hackers, that cloud mining become turn into a scam and others shady stuff. That's why i never trust cloud mining and never put my coins on it.

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Taki
Hero Member
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December 08, 2017, 10:31:26 AM
 #19

Best is never leave coins on a exchange or mining pool.
Push regularly to your wallet.
That is really the best decision, but many of micro earners choose to stay their founds on an exchanger or mining pool, cause of big transactions fees. I am one of them, I hold my coins on an exchanger to skip all those fees that I'm greedy to pay with weekly campaign's payment which is 0,001 BTC, it is really small, but I'm waiting for tokens after the end of the ICO Grin

   
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kavkasieli
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December 08, 2017, 10:50:55 AM
 #20


I have my investment done already in one company called bitforx, fingers crossed for all my savings!!

Didn't know about the site you mentioned, but upon searching this is just a cloud mining site that was designed to steal with people's money. Anyway good luck with your deposits there hope you get your ROI asap.
This farm is located in my hometown so i checked it by myself Cheesy
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