BIT Mining subsidiary loses $3M to cyberattack BIT Mining subsidiary loses $3M to cyberattack
BIT Mining wrote that $700,000 of the stolen funds belonged to BTC.com's clients while the remaining $2.3 million belonged to the company.
1 min read
Updated: Dec. 26, 2022 at 2:22 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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.
Mentioned in this article
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Latest Bitcoin Stories
Featured Story
Advertise Here
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,462.40
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
BIT Mining
BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company, with a long-term strategy to create value across the cryptocurrency industry.