MININGPOOLHUB

DESCRIPTION OF EVENTS

"The uniqueness of Miningpoolhub is that it is a multipool consisting of 36 pools. Given the decline in profits from mining leading digital assets, it is worth paying attention to altcoin mining, and Miningpoolhub is one of the best platforms that combine pools for mining both popular cryptocurrencies and little-known coins."

"Miningpoolhub has been operating in the market since 2014. The pool is registered in the USA, in the state of Arizona. It is impossible to call his scam a project since he has been working since 2014 and survived more than one crypto winter. The pool supports 33 cryptocurrencies: Adzcoin, Auroracoin, Bitcoin, Bitcoin-Cash, Bitcoin Gold, Bitcoin Private, Dash, Digibyte (Qubit, Skein, Groestl), Electroneum, Ethereum, Ethereum Classic, Ethersocial, Expanse, Feathercoin, Gamecredits, Globalboosty, Groestlcoin, Litecoin, Maxcoin, Monacoin, Monero, Musicoin, Myriadcoin (Groestl, Yescrypt), Ravencoin, Sexcoin, Siacoin, Startcoin, Verge, Vertcoin, Zcash, Zclassic, Zcoin, and Zencash."

"The pool charges a commission of 0.9% of the number of earnings. Miningpoolhub pays remuneration using the PPLNS (Pay Per Last N Shares) method. The reward for finding a block is distributed depending on the number of shares (shares) and the complexity of mining for the last 30 minutes. The minimum payment amount depends on the cryptocurrency mined."

"Earnings can be received either automatically (upon reaching the minimum threshold), or in manual mode. Pay attention to the ability to automatically convert digital currency, for example, you can exchange Groestlcoin for Bitcoin and withdraw your earnings to a BTC wallet."

"The hacker's address is a long time running process that scans the network for #Ethereum nodes open to the public network. It searches for open ports and tries to connect to the node." "If the node has accessible private keys on it, it sends all the funds to the hacker's address."

"Hackers have been using the following wallet addresses (among others) to steal Ethereum from misconfigured ethereum clients. (sorry have to use screenshot due to twitter's character limit)."

"$1.3 Million stolen from #eth mining pool @MiningPoolHub. The hacker got a total of $776,398 and paid ~$500,000 In mining fees." "If this is indeed the case, this is quite a screwup by @miningpoolhub."

"@etherscan Hi. We've moved the mining address from 0xda466bf1ce3c69dbef918817305cf989a6353423 to 0x3ecef08d0e2dad803847e052249bb4f8bff2d5bb Can you please change the label?"

"F2Pool, a Chinese mining pool that recently mined an Ether (ETH) transaction with an abnormal transaction fee of 2,310 ETH, has returned 90% of the fee to its sender."

"Announcing the news on June 18, F2Pool said that the MiningPoolHub, the original owner of the address behind the transaction, has received back 2,079 ETH, or about $480,000. The mining pool specified the transaction ID showing that F2Pool has returned the amount to its original owner."

"In order to complete the reimbursement transaction, the original address holder had to sign the new address using the private key of the original address. This is because the original address is now controlled by a hacker, F2Pool noted."

MiningPoolHub is a service which allows you to optimize your mining among different alt coins. On June 11th, 2020, a suspicious transaction was detected which removed 3,221 ETH ($746k USD) for a mining fee of 2310 ETH ($535k USD). 2079 ETH ($482k USD) were returned by F2Pool. It is unclear if any of these funds were user deposits. MiningPoolHub changed their wallet address after the breach.

HOW COULD THIS HAVE BEEN PREVENTED?

Funds should be stored offline in a multi-signature wallet whenever possible. All wallet setups should be reviewed by two separate validators to ensure security. Hot wallets can be protected collectively through an industry insurance fund.

Check Our Framework For Safe Secure Exchange Platforms

@amanusk_ Twitter (Jun 26)
@360Netlab Twitter (Jul 24)
@FrankResearcher Twitter (Jul 24)
@MiningPoolHub Twitter (Jul 24)
F2Pool Returns $500K of Abnormal ETH Transaction Fee to Sender (Jul 24)
Mining Pool Hub Detailed Explanation of Balances & Payout - YouTube (Jul 25)
NiceHash Alternative - Mining Pool Hub - Get Paid in BTC - YouTube (Jul 25)
https://etherscan.io/tx/0xfd10c9a4507c4ebf1db9f71e05ba8ea09f3603c9012c24195d731a1fadfa14d9 (Jul 25)
https://coinmarketcap.com/currencies/ethereum/historical-data/ (Dec 21)
New Transaction With $539K Fee Spotted on Ethereum Blockchain. Hack or Money Laundering? (Jul 26)

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