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Crypto Wallet BitKeep Hacked, Loses More Than $1 Million

The crypto wallet, BitKeep, has recently been attacked by hackers. Asia’s most popular cryptocurrency wallet is BitKeep Wallet.

According to a tweet from PeckShield, a blockchain security and data analytics company, the amount disclosed exceeded $1 million.

BitKeep has, however, quickly informed all its users about the unfortunate hack. It also mentioned that the development team is working hard to locate and contain the reach of the hacker.

The hackers have drained the wallet and exploited the swap feature.

PeckShield was the first to bring this hack to attention and also reached out to the users through Tweets, asking them to follow a series of steps which would ensure the safety of the users.

BitKeep, through their Twitter account, mentioned that the attack happened on the BNB Chain.

It is also not the first time that this chain was hacked in the month of October, as it experienced an attack which exploited the chain for $100 million.

Measures Taken By Crypto Wallet BitKeep

BitKeep, through their Tweets, has provided a series of measures which would help the users to minimise further damage and bring the whole hacking event to justice.

The wallet has also suspended its services in order to ensure that no other security issues exist.

BitKeep is also currently working with security agencies to locate the hacker. The crypto wallet has also decided to reimburse the users who have lost their funds.

However, the details of the plan have not been disclosed as of yet.

As the company learns further about the attack, it will provide more details about the same to its users. The reimbursement will be made in full, but the specifics of how the plan will work will be disclosed later.

BitKeep mentioned in its statement that it would

Encourage people who can assist in identifying the hackers and recovering the stolen assets to contact us. You will be highly rewarded. Thank you in advance.

What Did PeckShield Say

According to PeckShield, these hackers most likely exploited a switch or router of the multi-chain wallet, which combines a wallet, a swap, a non-fungible token (NFT) market, and a decentralised application (DApp) browser in a single location.

Users have been specifically instructed to cancel permission to the wallet because failure to do so may result in further financial loss.

This can be done by connecting the wallet to PeckShield’s Revoke.Cash platform, which will then stop access to all the tokens in the wallet, and includes the unregistered tokens too.

PeckShield, the blockchain security company also highlighted one of the hack transactions in which the exploiter transferred more than 190 tokens over the BNB network. The crypto wallet BitKeep supports over 70 mainnet chains, which include Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC).

Bitcoin was priced at $19,600 on the one-day chart | Source: BTCUSD on TradingView

Featured image from BitKeep, Source:

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Author: anushsamal

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