Faces Cyberattack, Loses $3 Million in Funds

Vignesh Karunanidhi Faces Cyberattack, Loses $3 Million in Funds

The cryptocurrency sphere is not new to scams, hacks, and cyberattacks. The increasing popularity and adoption have made cybercriminals shift their focus to cryptocurrencies. The attacks are not limited to any particular business. Everyone is vulnerable to increasing attacks, ranging from cryptocurrency exchanges to bitcoin mining pools.

In one of the latest announcements, it has come to light that one of the major cryptocurrency mining pools,, experienced a cyberattack on December 3. The details of the attack were revealed by the parent company, BIT Mining Limited. loses $3 million in funds

As per the details of the attack, the cybercriminals got away with $700,000 in client assets and $2.3 million in’s assets. The announcement also mentions that the incident has been reported to the authorities in Shenzhen, China.

The authorities also launched an investigation on December 23 and were able to secure some of the digital assets.

“The Company will devote considerable efforts to recover the stolen digital assets. In the wake of discovering this cyberattack, the Company has implemented technology to better block and intercept hackers.” is one of the largest cryptocurrency mining pools globally and is ranked seventh. It accounts for 2.5% of the total mining pool distribution in just the past seven days.