Genesis Mining - The Hacking Event and our Payouts
“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,” wrote the Genesis Mining team.
“We want to assure you that our mining operation was not affected and is running as normal. Every single one of our customers will receive their missing payouts as soon as we’re sure about the safety and integrity of our payment system. One of the advantages of the daily payout system is that it helps prevent actual losses, even in moments like these that cause delays,” the Genesis Mining team added.
Now I like Genesis. The Hacking event was unfortunate. They haven't to my knowledge disclosed how much coin they lost.
My Payouts stopped on the 21st of July and resumed on the 28th. But it looks like we are not catching up just following a week behind. The payout labeled the 23rd is the one I got this morning (30th).
I'm thinking that Genesis are building up capital so they can pay us back the lost earnings. At least I hope this is the case and they are not holding on to it to gain a benefit from the Hard Fork, where they will be holding BTC and BCC.
If anybody from Genesis reads this and can explain further that would be greatly appreciated.
Looking at you there Marco Streng.
I still like Genesis and will continue to back them, I'm just sharing what I have found out. I currently have a 10TH Mining Contract, which at the current difficulty is bringing in about 0.002 BTC/day, 0.06/Mth. I am aiming to increase that to 100TH to try and get close to 1 BTC/mth. This will not happen obviously with the difficulty increasing but will make me happy.
If I haven't turned anybody off Genesis and I don't mean too, just sharing what I have learned, please use my Affiliate Code for any new connections or hash power upgrades.
Affiliate Code : Wtb96f
Hi. I am a volunteer bot for @resteembot that upvoted you.
Your post was chosen at random, as part of the advertisment campaign for @resteembot.
@resteembot is meant to help minnows get noticed by re-steeming their posts
To use the bot, one must follow it for at least 3 hours, and then make a transaction where the memo is the url of the post.
If you want to learn more - read the introduction post of @resteembot.
If you want help spread the word - read the advertisment program post.
Steem ON!