By Richard Hines
BIT Mining Firm lost $3 million worth of cryptocurrencies to a hacker in a cyberattack that happened recently. Over $700,000 of the stolen funds, according to a statement made by the BIT Mining company, belonged to BTC.com clients, while the remaining funds belonged to the company.
The Bad Days Are Not Over Yet
Just as we were beginning to believe that the awful omens and events in the crypto sector were finally coming to an end, another entry was made.
Over $3M worth of the BIT mining company’s assets were recently stolen in a cyberattack.
According to a statement released on December 23rd, this incident occurred on December 3rd, and the target of the attack was its subsidiary company BTC.com. Over $700,000 of the $3 million stolen belonged to BTC.com clients, and the remaining $2.3 million belonged to the BIT company.
The BTC.com which is a subsidiary of the BIT Mining firm primarily focuses on mining pools, with more than a million users utilizing the extended crypto wallet on this BTC.com website.
BTC.com doesn’t just concentrate on mining; it also diversifies into other areas.
It offers information about digital currencies like Bitcoin, Ethereum, and other currencies as well as timely and accurate on-chain measurements.
The BIT mining corporation only released the total amount stolen to the public without going into additional detail about what allowed these hackers access to their systems.
Investigation Ongoing Into This Theft
When this incident occurred, the BIT firm reported it to the Chinese law enforcement authorities.
Additionally, it was revealed that on December 23rd, the authorities began their investigation and review of this matter.
The BIT company has cooperated fully with the law enforcement in giving all necessary information and intelligence regarding this cyberattack and theft.
The BIT corporation continued to reassure the public of their safety by saying that since the incident, the company has put in place several security measures and tactics to prevent a repeat of the current situation.
Despite the theft case, BTC.com is still operational, and all of its client funds—aside from the $700,000 affected—are secure and untouched.