BTC.com, a subsidiary of the leading cryptocurrency infrastructure provider BIT Mining, has become the latest victim of crypto exploits, with hackers draining around $3 million in digital assets.
Chinese Authorities Launches Investigation
According to the press release, Shenzhen law enforcement had launched an investigation into the matter and started collecting evidence on December 23rd.
BTC.com said it implemented adequate security measures to protect itself against hackers while continuing to operate as usual. The firm also disclosed that the attack did not affect its customers’ funding services.
“In the wake of discovering this cyberattack, the company has implemented technology to better block and intercept hackers. BTC.com is currently operating its business as usual, and apart from its digital asset services, its client fund services are unaffected,” the company said.
As a crypto-focused company operating under BIT Mining, the firm provides multi-mining services, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
BTC.com disclosed it would devote considerable effort to recover the stolen digital assets.
Hackers Continue to Exploit Crypto firms
So far, several companies such as digital assets wallet provider BitKeep, decentralized finance (DeFi) protocol Defrost Finance, and crypto startup Ankr have lost $8 million, $12 million, and $5 million in cryptocurrencies, respectively, within the past few weeks.
While some of these hackers went free without attracting the attention of law enforcement, BTC.com intends to track down the hackers with the help of Chinese authorities.
Hackers Stole Over $3 billion in 2022
Meanwhile, the latest incident represents a small portion of the total assets stolen from the industry this year. According to blockchain analytics firm Chainalysis, hackers stole more than $3 billion in crypto across 123 hacks in October.
The figures represent the number of times hackers exploited crypto companies between January and October this year. Since the report in October, many firms have lost millions of dollars to cybercriminals.
