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BIT Mining subsidiary loses $3 million in cyber attack

According to a statement Dec. 26, crypto mining company BIT Mining said its subsidiary BTC.com lost $3 million worth of digital assets in a cyberattack on Dec. 3.

BIT Mining wrote this $700,000 of the stolen funds belonged to BTC.com customers, the rest $2.3 million belonged to. The company did not disclose details of the stolen assets.

Bitcoin (BTC) mining firm reported the incident to law enforcement in Shenzhen, China. She added that authorities opened an investigation on December 23 and that she is working with the relevant authorities to recover the stolen assets.

BIT Mining said it has taken the necessary precautions to prevent a recurrence. It added:

“BTC.com is currently continuing its business as usual and other than its digital asset services, its retail funds services are unaffected.”

BTC.com is a mining pool business under BIT Mining. The company has a crypto wallet arm with over 1 million users worldwide.

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 believes in the transformative power of Bitcoin and the blockchain industry.

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