Dear NiceHash users!
Please read carefully the following announcement regarding the further progress and changes of the NiceHash Repayment program that will come into effect on Friday, February 1, 2019.
About NiceHash Repayment program
NiceHash has created the Repayment program for NiceHash internal wallet users and external wallet users that were affected by the security breach that happened in December 2017. The Repayment program started on Friday, February 2, 2018, and 71% of the old balance amount was already reimbursed to all users that were impacted by the security breach. If you became NiceHash user after December 22, 2017, this press release is not relevant for you.
On Friday, February 1, 2019, one year after the start of the Repayment program, the Repayment program will be updated with some important changes.
Repayment program has some differences regarding the reimbursement to internal and to external wallets. Below are the changes described separately for internal wallet users and external wallet users.
Repayment program update for internal wallet users
Users that were registered on the NiceHash platform before December 6, 2017, can log in to their account and can see the old balance tab under the Wallet section on their Dashboard. The old balance shows the total amount of Bitcoins (BTC) that users had in their wallet address prior to the attack.
Here are the new updates:
- If you haven’t entered the Repayment program yet, you still have time to do so until Friday, February 1, 2019! To enter the Repayment program, log in to your NiceHash account and click old balance tab on your Dashboard. Then follow the instructions on the screen.
- If you do not perform this action by Friday, February 1, 2019, you will NOT be able to enter the Repayment program through our website anymore. You are still going to be eligible to claim your old balance funds after February 1, 2019. To do that you will have to contact us by email.
- If you have entered the Repayment program already, you will have the chance to end the Repayment program at the current status by clicking on the END REPAYMENT PROGRAM button under Old balance section. By ending the Repayment program you renounce the remaining amount of the old balance. By performing this action you will leave the Repayment program. These funds will be spent solely for other users remaining in the repayment program.
Repayment program update for external wallet users
All users who were not registered with NiceHash at the time of the attack and were using the NiceHash service with their external wallet address are also included in the Repayment program. External wallet users can go to the following page and enter their external wallet address (that they were using at the time of the attack) to see their old balance and monitor the repayment progress. At this point in time, the Repayment program conditions for external wallet users stay the same!
Reasons for the update of the Repayment program
Every reimbursement amount depends on the current market trends and successful operation of our platform, as we are repaying the old balance through our fees and thus cutting our profits. So far, we have reimbursed 71% of the old balance amount with our Repayment program and the entire cryptocurrency market has slowed down in the recent months. Because of that, some users have very low balances and thus have stopped mining. There is a possibility they will never reach the minimum payout threshold and that is the reason for giving the option for exiting the NiceHash Repayment program. Some users have even requested if they can donate the remaining amount of the old balance to NiceHash. We are very grateful for such recognition of our best efforts to repair the reputation of our brand. Every amount that is going to be donated to NiceHash by users leaving the Repayment program, will be spent solely for other users remaining in the repayment program.
If you have any additional questions, we advise you to open a customer support ticket. Our company representatives are also present on the NiceHash subreddit and we advise everyone to follow our social media announcements for the latest information and press releases.
Thank you for your continuous support,
Your NiceHash team.