NiceHash halts repayment program

You might remember tales from Way back in 2017 when a company one night lost $62 million dollars in cryptocurrency. That was Nicehash, they ended up promising to repay their users and have been chugging along for the past couple of years doing just that.

The repayment probably was because it appeared at the time that they did just about everything to make themselves as vulnerable as possible.

Well, yesterday at 82% complete they ceased the repayment program, or at least put it on indefinite pause which, in most cases means they’re done.

The reason stated is that they have repaid over 100%, but they’re being taxed on the repayment, at about 18% (the amount still left to pay to users.)

I’m not quite sure what to think about this. They’re out the amount they lost, but the people aren’t repaid and there’s no word of even a reduced stream into the repayment pot. Just vague promises that if 2020 looks better something might happen.

[NiceHash]
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Paul E King

Paul King started with GoodAndEVO in 2011, which merged with Pocketables, and as of 2018 he's evidently the owner. He lives in Nashville, works at a film production company, is married with two kids. Facebook | Twitter | Donate | More posts by Paul | Subscribe to Paul's posts