Crypto wallet BitKeep loses $8 million in ongoing hack

abdelaziz Fathi

Asia’s most popular crypto wallet BitKeep, which claims to have more than six million users, was hacked for around $8 million worth of different tokens, developers said on Monday.

According to a tweet from PeckShield, a blockchain security and data analytics company, the stolen assets include nearly 4373 $BNB, 5.4 million $USDT, 196k $DAI, and 1233.21 $ETH. The wallet has also suspended its services in order to ensure that no other security issues exist.

BitKeep, which supports tokens from more than 30 blockchain networks, quickly informed all its users about the unfortunate hack. In their official Telegram group, the multichain crypto wallet said that their initial investigation suspects that some APK package downloads have been “hijacked by hackers and installed with code implanted by hackers.”

BitKeep, through their Twitter account, also mentioned that the development team is working hard to locate and contain the reach of the hacker. Until then, it told users whose money was stolen that the application they downloaded or updated may be an unknown version (unofficial release version) hijacked.

Now for the safety of user funds, BitKeep suggests that those who downloaded the APK version to transfer the funds to “the wallet downloaded from another official store (App Store or Google Play).” In addition, it recommends to use the newly created wallet address as the address they created through apk may be leaked to hackers.

As the team learns further about the attack, it will provide more details about the same to its users. The statement further reads:

“Tip: If conditions permit, please be sure to use the official Apple or Google store to download and use BitKeep wallet to ensure the safety of your assets. If your wallet is stolen, please submit relevant materials in the form as soon as possible, we will figure out the solution and assist as soon as possible
https://docs.google.com/forms/d/e/1FAIpQLSebJ7eAGduQd3E5MjhGRo6aNDQ4zYdABXqUKnVeMDrsuIIIzg/viewform?usp=sf_link.”

The attack is the latest in a long list of exploits over the last few months. Earlier in October, BitKeep wallet’s swap feature itself was exploited and the attacker stole approximately $1 million worth of BNB Chain and Polygon-based tokens. At the time, BitKeep launched a compensation portal and said it will reimburse 100% of the tokens stolen from users.

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