A major crypto-currency mining pool was hit by hackers earlier this month, the company that owns the pool revealed in an announcement. The incident resulted in the theft of digital assets belonging to the pool and its customers with a combined total value of $3 million.
Chinese authorities are launching an investigation into the hacking of a crypto-currency mining pool.
A subsidiary of bitcoin mining company Bit Mining has been targeted by a hacking attack, the company said in a press release. The affected entity is a leading bitcoin mining pool, Btc.com, which last week accounted for more than 2.5 percent of the pool’s distribution and has a share of more than 4 percent on an annual basis.
According to the announcement released on Monday, December 26, the platform was hit on December 3, 2022. As a result, $2.3 million worth of digital assets belonging to the company and another $700,000 worth of assets belonging to its customers were stolen.
The cyberattack was reported to law enforcement in Shenzhen, China, on December 23. Chinese authorities have launched an investigation into the incident and are collecting evidence with the support of relevant agencies, Bit Mining detailed and highlighted:
The company will make extensive efforts to recover the stolen digital assets.
The mining company said that some of Btc.com’s cryptographic assets have already been secured. It also noted that after discovering the breach, it implemented technology designed to better block and intercept hackers, ensuring :
Btc.com is currently conducting business as usual, and aside from its digital asset services, its client fund services are not affected.
In addition to the top-10 mining pool, which provides mining services for bitcoin (BTC), ether (ETH), and litecoin (LTC), Bit Mining Limited also owns mining device manufacturer Bee Computing and operates minting facilities.
Since the Chinese government cracked down on the industry in the spring of 2021, Bit Mining has sought to expand its operations in Kazakhstan, which has become a major crypto-currency mining hotspot. In August of this year, the company announced that it had secured a $9.3 million registered direct investment from institutional investors.