The company stated that the hack occurred on December 3 although no details about the stolen funds were disclosed.
Despite the hack, BTC.com continues to provide mining pool services to consumers.
The investigation into the cyberattack on BTC.com adds another crypto-related legal issue for China.
Cyberattack resulting in a significant loss of company and client funds.
On December 3, attackers stole around $700,000 in client assets and $2.3 million in company assets. The mining pool's parent company, BIT Mining Limited, made the official announcement on December 26.
The cyberattack was reported to law enforcement officials in Shenzhen, China, by bit Mining and BTC.com. Following that, the local authorities initiated an inquiry into the occurrence, collecting evidence and asking for assistance from relevant Chinese agencies. As per the announcement, the initiatives have already assisted BTC.com in recovering part of the assets.
BIT Mining stated that it will make significant attempts to retrieve the stolen digital assets and that it has also deployed technologies to better block and intercept hackers.
Despite the incident, BTC.com continues to provide mining pool services to consumers.
BTC.com, one of the largest cryptocurrency mining pools in the world, offers multicurrency mining services for numerous digital assets such as Bitcoin and Litecoin. BTC.com now offers a blockchain browser in addition to mining services. BIT Mining, its parent company, is a publicly-traded company on the New York Stock Exchange.
According to BTC.com data, the firm's mining pool is the seventh-largest in the world, accounting for 2.5% of total mining pool distribution for the last seven days and having a hash rate of 5.80 exahashes per second (EH/s). Its total contribution is greater than 5% of the total hash rate.
The investigation into the cyberattack on BTC.com adds another crypto-related legal issue for China, which last year imposed a blanket ban on all crypto activity.
Despite the restriction, China reemerged in January 2022 as the second-largest Bitcoin hash rate supplier after losing the top rank and plunging in 2021.
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