Bitcoin Hack Causes CEO to Quit

NiceHash, a Slovenian crypto-currency cloud mining marketplace that links hashpower sellers and buyers, experienced a major setback when the virtual currency company was hacked and about 4K Bitcoins were stolen.

The organization used a single digital wallet, which was used to store all the Bitcoins..The hack caused a loss of 4700 bitcoins, costing around $63 million at current value.

While the hack occured a while ago, the company is once again in the news, this time not for the hack but for the company’s CEO, Marko Kobal, resigning from his position.

According to Kobal, the company is still recovering from the hacking event, and he decided to quit to allow new management to handle the matters.

The company was founded in 2014 by Kobal along with Matjaž Škorjanc, who is still the company’s CTO.

Kobal agreed to sell his 45% stake in the organization, a minor part of which will be sold to an outside investor and the rest will be bought by H-Bit, owned by Martin Škorjanc, who is the father of Matjaž Škorjanc.

According to a Slovenian newspaper ‘Delo’ Marko Kobal’s position will be replaced by Zdravko Poljašević, who was previously not with the company.

After this Bitcoin hack, the company has recently announced its plan to reimburse affected users, a move that has brought back some users to the company. According to the declaration, the reimbursement date for old balances will be announced on 31st of January, 2018.

So far, Bitcoin hacks were only affecting users and companies financially, but this incident proves that they can shake entire hierarchy.

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