According to a Dec. 26 statement from BIT Mining, its subsidiary BTC.com lost $3 million in digital assets due to a cyberattack on Dec. 3.
According to BIT Mining, $700,000 of the stolen funds belonged to BTC.com’s clients, while the remaining $2.3 million belonged to the company. The company did not reveal any information about the stolen assets.
The incident was reported to law enforcement in Shenzhen, China, by the Bitcoin (BTC) mining firm. It went on to say that the authorities launched an investigation on December 23 and that it is working with the appropriate agencies to recover the stolen assets.
BIT Mining stated that it had taken the necessary precautions to prevent a recurrence. It continued:
“BTC.com is currently operating its business as usual, and apart from its digital asset services, its client fund services are unaffected.”
BTC.com is a mining pool operated by BIT Mining. The company has a crypto wallet division with over 1 million users worldwide.
BTC.com’s website also provides real-time on-chain information about Bitcoin and other digital assets such as Ethereum, among others.
BTC.com, one of the largest cryptocurrency mining pools in the world, offers multicurrency mining services for a variety of digital assets, including Bitcoin and Litecoin.
BTC.com also offers a blockchain browser in addition to mining services. BIT Mining, its parent company, is a publicly traded company on the New York Stock Exchange.
According to BTC.com data, the BTC.com mining pool is the seventh-largest in the world, accounting for 2.5% of total mining pool distribution over the last seven days and having a hash rate of 5.80 exahashes per second (EH/s). Its total contribution is greater than 5% of the total hash rate.
The investigation into the cyberattack on BTC.com adds another crypto-related legal case for China, which last year imposed a blanket ban on all crypto operations.
Despite the ban, China reemerged in January 2022 as the second-largest Bitcoin hash rate provider after losing the top spot and plummeting in 2021.
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