A recent cyberattack on bitcoin mining pool BTC.com resulted in the theft of over 3 million dollars worth of cryptocurrency. The attack, which took place on July 18, targeted the pool’s hot wallet, an online wallet used for frequent transactions.
The perpetrators were able to gain access to the wallet by exploiting a vulnerability in BTC.com’s software. They then transferred a large amount of bitcoin and bitcoin cash from the wallet to their own addresses.
BTC.com was able to quickly identify the issue and halt further withdrawals, but the damage had already been done. The pool has stated that it will cover the losses sustained by its users and is currently working on a plan to reimburse those affected by the attack.
This is not the first time that a bitcoin mining pool has been targeted by hackers. In 2014, the now-defunct Mt. Gox exchange was the victim of a similar attack, resulting in the loss of over 850,000 bitcoin.
Despite the attack, BTC.com remains a major player in the bitcoin mining industry. The pool currently controls around 11% of the network’s hash rate, making it one of the largest and most influential mining pools in the world.
This latest incident serves as a reminder of the importance of maintaining strong cybersecurity measures and the need for constant vigilance in the cryptocurrency industry. It also highlights the ongoing risks associated with online wallet use, and the need to carefully evaluate the security measures in place before storing large amounts of cryptocurrency in a hot wallet.
