We want to keep you updated on the technical difficulties that have interrupted payouts in the last few days. Our team has been working to address every aspect of this problem to restore service, and now we’re able to update you in more detail.
We’re glad to announce that we’ve processed a bulk payout of all missing payouts before July 30th – it should pop up in your dashboard soon if it hasn’t already. All affiliate payments are following shortly.
As you are all aware, the upcoming potential Bitcoin hard fork called ‘Bitcoin Cash’ represents a challenge for all industry companies and needs to be thoroughly addressed. As the fork is likely to cause disruption in the Bitcoin network, we will temporarily halt payouts and orders (with cryptocurrencies) for up to 48 hours and release all funds to your wallets as usual after the situation is clear. This is a common security practice for exchanges and other companies alike. The mining operation itself is not influenced by this and resumes as normal.
We’ve collected all your questions about this potential fork and prepared a FAQ for you. Please check it out here.
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.
We have found no evidence that sensitive end user information, including email addresses, were exposed by this incident. We also do not collect, store or have access to customers’ credit card details. We immediately engaged 3rd party cyber security advisory to investigate the attack, and validate that the measures we took to address this issue – and it’s those security practices that ensure that an issue like this remains isolated and resolvable.
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 next payout is being scheduled, and all missing mining profits will be paid out to our users during the coming days. Genesis Mining will cover the full amount, and you will receive all of your payouts. The mining profits will be released gradually with the usual daily payouts, so you will receive two payouts a day instead of the usual single payout per day, until all missing payments are complete. We’re sorry for any delays in ticket responses, and I want to personally assure you that our Customer Service team will respond to each and every concern you have.
We will update you as soon as new information is available.
We’ve been providing daily cryptocurrency payouts for more than three years now and treat these payouts as a promised service for our customers. Your trust and confidence in Genesis Mining is of the utmost importance to us, and we understand the frustration around not receiving those payouts. That’s why our team is working around the clock to resolve the issue and restore payouts, while ensuring something like this doesn’t happen again.
Every person who mines with us helps make what we do possible, and we appreciate your patience with us as we work to ensure security while getting you your hard earned coins.
CEO Genesis Mining