Reading Time: < 1 minuteBitcoin mining pool BTC.com has lost $3 million in a cyberattack
$700,000 of this was client funds
The company hasn’t revealed the attack vector, but has said that it will refund client losses

BTC.com yesterday reported that it had suffered a cyberattack that has seen it lose $3 million worth of assets. The mining pool revealed that the attack occurred on December 4 and saw $700,000 in client assets and $2.3 million in the company’s own assets stolen, but reassured affected customers by saying that it would make up any client losses from its own pocket. BTC.com is one of the largest cryptocurrency mining pools in the world and offers mining services for various digital assets, including Bitcoin and Litecoin. 

Attack Vector Not Revealed

BTC.com, a subsidiary of BIT Mining, reported the cyberattack to law enforcement authorities in Shenzhen, China on the day it happened, with local authorities initiating an investigation into the incident and seeking assistance from relevant agencies within the country. BTC.com says that it will “devote considerable efforts to recover the stolen digital assets”, hopeful that the authorities can help them do so.

No details have yet been given as to the method of the attack, but BTC.com says that it has “implemented technology to better block and intercept hackers.”

Business as Usual

Despite the attack, BTC.com continued to provide mining pool services to its customers and stated that its client fund services were unaffected. The BTC.com mining pool is the seventh-largest in the world, having roughly a 2.5% share of total mining pool distribution in recent days and a hash rate of 5.80 exahashes per second (EH/s).

The post BTC.com Suffers $3 Million Loss in Cyberattack appeared first on FullyCrypto.

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Filed under: Bitcoin - @ December 27, 2022 8:54 am