Steemit, a blockchain powered social media platform, was hacked on Thursday which resulted in nearly 260  accounts getting compromised and likely theft of $85,000 worth of Steem Dollars and Steem.

In a blog post Steemit CEO Ned Scott said that the hack has been contained, adding that user accounts and wallets are not at risk. He also said that users whose accounts were compromised will be completely reimbursed.

“Though only a relatively small amount of Steem was stolen, we take any form of criminal activity against our community extremely seriously. We have reported the hack to police and other cyber crime authorities, including the FBI. A full, internal investigation is currently being conducted and we are working on an immediate solution”, Scott said.

He added that partner exchange Bittrex was informed of the compromise and is actively helping the investigation. As a precaution, the exchange has temporarily suspended the ability to deposit or withdrawal Steem and Steem Dollars from its platform.

“The suspension will be lifted as soon as possible”, he said.

This attack follows the $1.3 million payout by Steemit to its users earlier this month. The platform recorded a 1600% growth in its user base in just a month, after its beta launch in May. Steemit doubled again in the month from June to July.