NiceHash to repay 100% of bitcoins stolen in the 2017 hack

The cloud-mining platform NiceHash announced that it would complete its repayment programme to users of bitcoins stolen in the 2017 hack in December.

NiceHash Repayment program — 100% REPAYMENT! ⚠️⚠️https://t.co/6DcJZbdPPG

— NiceHash (@NiceHashMining) November 16, 2020

In December 2017, an attacker withdrew more than 4,640 BTC from user wallets on the platform, at a time when the price of the cryptocurrency was around $12,000.

On February 2, 2018, the Slovenia-based service began a loss-recovery programme, crediting a portion of the coins to victims of the hack on a monthly basis.

By the end of August of that year NiceHash said it had already refunded 60% of the lost assets to customers.

In December 2019 the platform suspended the programme. NiceHash noted that repayments were funded from platform fees, reducing its revenue. The decision to pause the programme was explained as necessary to preserve cash flow sufficient to continue operations.

At that time the recovery rate stood at 82%. NiceHash did not provide a timeline for resuming the payout of assets.

The platform said it would reimburse 100% of the bitcoins lost by users on December 16, 2020.

Earlier, the FBI charged NiceHash founder Matjaž Škorjanc with extortion and bank fraud.

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