bit mining – Crypto Market Insights: Dive In with CryptoUpdate.io https://cryptoupdate.io Latest cryptocurrency news, market updates and analysis Tue, 27 Dec 2022 13:42:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 Cyberattack on a Subsidiary of BIT Mining https://cryptoupdate.io/2022/12/27/cyberattack-on-a-subsidiary-of-bit-mining/ https://cryptoupdate.io/2022/12/27/cyberattack-on-a-subsidiary-of-bit-mining/#respond Tue, 27 Dec 2022 13:42:38 +0000 https://cryptoupdate.io/?p=6494 The top technology-driven cryptocurrency mining firm, BIT Mining Limited, has reported that its subsidiary, BTC.com, was the target of a cyberattack on December 3, 2022. About US$700,000 worth of assets held by BTC.com’s customers and about US$2.3 million worth of assets owned by BIT Mining were stolen in the incident. The company has informed local Chinese authorities of […]

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]]> The top technology-driven cryptocurrency mining firm, BIT Mining Limited, has reported that its subsidiary, BTC.com, was the target of a cyberattack on December 3, 2022. About US$700,000 worth of assets held by BTC.com’s customers and about US$2.3 million worth of assets owned by BIT Mining were stolen in the incident.

The company has informed local Chinese authorities of the situation. Several of BTC.com’s digital assets have been protected thanks to internal and external collaboration. On December 23rd, 2022, officials opened a probe, started gathering evidence, and reached out to other organizations for help and cooperation. The company is committed to making significant efforts to restore lost data.

Because of this incident, the firm has introduced new measures to prevent future intrusions. For the time being, BTC.com’s operations remain unchanged, and neither the company’s nor its customers’ client funds nor any digital assets are at risk.

Details about BIT Mining Limited

Long-term value creation for the whole cryptocurrency sector is the focus of BIT Mining, the premier technology-driven cryptocurrency mining firm. Its offerings include mining pools, data center management, miner production, and mining cryptocurrencies. The company owns BTC.com, the most popular blockchain browser in the world, and the extensive mining pool business run by BTC.com, which offers mining services for several cryptocurrencies. As part of its efforts to maximize efficiency across the board, the company has acquired Bee Computing, a maker of cryptocurrency mining hardware operating at 7 nanometers.

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