The Bitcoin Mining Pool Suffers a Cyber Attack, and $700.000 Is Stolen

The incident is just another illustration of the vulnerability of famous crypto firms. Both the quantity and complexity of cybercrimes are growing., a Bitcoin mining pool, reported on December 3 that it had been the victim of a cyberattack.

The criminals stole digital assets worth $700,000 belonging to customers of and over $2.3 million belonging to its parent company, BIT Mining Limited.

According to the official news release, Chinese law enforcement officials in Shenzhen were notified of the event. Some of the stolen assets of have been recovered.

The authorities initiated an inquiry last week, which began with the collection of evidence. They have asked for more cooperation from BIT Mining and collaboration with other relevant entities.

“Following the discovery of this incident, the Company has developed technologies to stop and intercept hackers more effectively. is now running as normal, and its client fund services remain unaffected, with the exception of its digital asset services.”

Cybercrimes in the crypto realm may take a variety of forms, including schemes that promise instant wealth, fake airdrops, social media giveaways, imitation of legitimate cryptocurrency exchanges and platforms, and other fraudulent operations that employ digital assets as bait.

In October of this year, hackers hacked the cross-chain bridge BSC Token Hub – blockchain affiliated with Binance and stole $570 million.

Recently, $12 million was stolen through the DeFi protocol Defrost Finance in an assault that was widely believed to be a rug pull.

BitKeep wallet has been compromised twice this year. In the most recent incident, thieves stole $8 million worth of Binance Coin, Ether, Tether, and DAI.

Also Read: Coin Bureau Predicts 2023 Will Be Big For Ethereum And Polkadot (DOT)