Cybercriminals Steal $3M From Crypto Mining Pool BTC.com

• Client funds of $700,000 and corporate funds to the tune of $2.3 million were stolen.
• BTC.com allows users to mine several cryptocurrencies, such as Bitcoin and Litecoin.

Cybercriminals successfully stole a significant amount of money from the cryptocurrency mining pool BTC.com. Client funds to the tune of $700,000 and corporate funds to the tune of $2.3 million were stolen in the assault on December 3. BIT Mining Limited, the parent company of the mining pool, made the statement on the 26th of December.

The hack was reported to local authorities in Shenzhen, China by BIT Mining and BTC.com. In response, local officials opened an inquiry into the event. Gathered evidence, and reached out to the appropriate Chinese authorities for help. According to the statement, the measures have already helped BTC.com recover part of the funds.

Services Unaffected Post Hack

BIT Mining said, “The Company will devote considerable efforts to recover the stolen digital assets,” and added that it has implemented technologies to “better block and intercept hackers.” BTC.com has said that it would continue to provide mining pool services to its clients notwithstanding the event.

As one of the biggest cryptocurrency mining pools, BTC.com allows users to mine several cryptocurrencies, such as Bitcoin and Litecoin. BTC.com not only offers mining services but also a blockchain browser. BIT Mining is owned by a publicly traded corporation called BIT, which is traded on the New York Stock Exchange.

According to statistics from BTC.com, the mining pool has a hash rate of 5.80 exahashes per second (EH/s), making it the seventh-largest in the world. This mining pool is responsible for 2.5% of the global mining pool distribution for the previous seven days. To date, it has contributed more than 5% of the global hash rate.