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Bitcoin mining pool BTC.com reports $3M cyberattack

Bitcoin mining pool BTC.com reports $3M cyberattack


Mining

cointelegraph.com

26 December 2022 14:32, UTC

  

Studying time: ~2 m


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

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 guardian agency BIT Mining Restricted formally introduced 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 accumulating proof and requesting help from related businesses in China. The native coordination has already helped BTC.com get well among the belongings internally, the announcement notes.

“The corporate will dedicate appreciable efforts to get well the stolen digital belongings,” BIT Mining mentioned, including that it has additionally deployed know-how to “higher block and intercept hackers.”

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

“BTC.com is at the moment working its enterprise as standard, and other than its digital asset companies, its consumer fund companies are unaffected.”

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

Associated: Bitcoin hashrate recovers after large 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 accordance with BTC.com knowledge. BTC.com’s all-time Bitcoin hashrate contribution accounts for greater than 5% of the whole BTC mining swimming pools’ hashrate.

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

BTC.com’s cyberattack investigation in China brings 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 supplier in January 2022 after briefly shedding its world hashrate management in 2021.


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