BIT Mining subsidiary loses $3M to cyberattack

Cryp­to min­ing firm BIT Min­ing said its sub­sidiary BTC.com lost $3 mil­lion worth of dig­i­tal assets to a cyber­at­tack on Dec. 3, accord­ing to a Dec. 26 state­ment.

BIT Min­ing wrote that $700,000 of the stolen funds belonged to BTC.com’s clients while the remain­ing $2.3 mil­lion belonged to it. The com­pa­ny did not dis­close the details of the stolen assets.

The Bit­coin (BTC) min­ing firm report­ed the inci­dent to law enforce­ment agen­cies in Shen­zhen, Chi­na. It added that the author­i­ties launched an inves­ti­ga­tion on Dec. 23 and that it is coop­er­at­ing with the rel­e­vant agen­cies to recov­er the stolen assets.

BIT Min­ing said it had imple­ment­ed nec­es­sary pre­cau­tions to fore­stall a recur­rence. It added:

“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 busi­ness under BIT Min­ing. The firm has a cryp­to wal­let arm with over 1 mil­lion users globally.

Through its web­site, BTC.com also pro­vides real-time on-chain infor­ma­tion about Bit­coin and oth­er dig­i­tal assets like Ethereum, etc.

Jour­nal­ist at CryptoSlate

Oluwape­lu­mi is a believ­er in the trans­for­ma­tive pow­er Bit­coin and the blockchain indus­try holds.