BIT Mining Limited: Danger of Cyber Attack
BTC.com, which happens to be a subsidiary of BIT Mining Limited, encountered one of the most dangerous risks of any business, cyber attack. This event took place on December 3, 2022. For the uninitiated, BIT Mining Limited is an open source cryptocurrency mining company.
However, BTC.com’s parent company, BIT Mining Limited, has not faced hacking attacks for the first time. Earlier this month, they faced a similar attack, losing up to $700,000 in customer assets. Additionally, they lost $2.3 million in stolen company assets.
At this particular time, it would be important to have a little information about what BIT Mining Limited, as a business, entails. In addition to being a mining and technology leader, he is actively involved in creating value for the cryptocurrency industry as a whole. His areas of expertise include mining pools, data center operations, and mining operations.
From the beginning, these events remained his priority. Apart from all other aspects, the company also has the leading blockchain browser, BTC.com.
At this time, the company has made a decision to inform the relevant law enforcement officials in Shenzhen, China about the incident. In the meantime, through a plan made within the company, they have managed to save part of the digital assets of the aid.
The Chinese authorities, meanwhile, have begun to investigate the relevant evidence, with the help and participation of other related institutions. However, the company, in turn, has begun the process of using its technology to prevent such attacks from happening in the future.
As far as the company is concerned, it generally seems that business is business as usual, despite the bad events. Also, steps have been taken to address the issue of these hacking attacks. The company has implemented a better way to prevent hackers from blocking and preventing them. However, there was a 98% drop in shares of BIT Mining Limited as there was a drop in the price of Bitcoin.
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