Bitcoin mining pool BTC.com stories $3M cyberattack

Main cryptocurrency mining pool BTC.com has suffered a cyberattack leading to a big lack of funds by the corporate and its clients.

BTC.com skilled a cyberattack on Dec. 3, with attackers stealing round $700,000 in consumer belongings and $2.3 million within the firm’s belongings, the mining pool’s father or mother agency BIT Mining Restricted formally announced on Dec. 26.

BIT Mining and BTC.com reported the cyberattack to regulation enforcement authorities in Shenzhen, China. The native authorities subsequently launched an investigation into the incident, beginning amassing proof and requesting help from related companies in China. The native coordination has already helped BTC.com recuperate among the belongings internally, the announcement notes.

“The company will devote considerable efforts to recover the stolen digital assets,” BIT Mining stated, including that it has additionally deployed know-how to “better block and intercept hackers.”

Regardless of dealing with the incident, BTC.com continues working its mining pool companies to clients, the agency said:

“BTC.com is currently operating its business as usual, and apart from its digital asset services, its client fund services are unaffected.”

One of many world’s largest cryptocurrency mining swimming pools, BTC.com supplies multi-currency mining companies for numerous digital belongings together with Bitcoin (BTC) and Litecoin (LTC). Aside from mining companies, BTC.com additionally operates a blockchain browser. Its father or mother firm, BIT Mining, is a publicly traded agency listed on the New York Inventory Trade.

Associated: Bitcoin hashrate recovers after big freeze shuts down miners

BTC.com mining pool is the seventh greatest mining pool worldwide, accounting for two.5% in whole mining pool distribution over the previous seven days, with a hashrate of 5.80 exahashes per second (EH/s), in response to BTC.com information. BTC.com’s all-time Bitcoin hashrate contribution accounts for greater than 5% of the full BTC mining swimming pools’ hashrate.

Bitcoin pool distribution over the previous seven days. Supply: BTC.com

BTC.com’s cyberattack investigation in China brings yet one more crypto-related authorized case for native authorities, which opted to place a blanket ban on all crypto operations final yr. Regardless of the ban, China reemerged because the second-largest Bitcoin hashrate provider in January 2022 after briefly dropping its world hashrate management in 2021.

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