BitKeep Expects to Compensate All Victims of $8M Exploit by March-End

Multi-chain crypto wallet BitKeep revealed that it will launch the compensation portal in the first week of February, and 50% of the funds are expected to be returned to users by the end of the same month. The remaining funds will be distributed by the end of March.

To avoid fluctuation, the asset valuation of the compensation will be converted to USDT stablecoin.

• In a series of tweets, BitKeep said that its technical team, as well as security agencies, devised a closed-loop verification system that included the affected users’ multi-dimensional information, such as wallet addresses, stolen amounts, and token details.

“Hackers never sleep-pls take good care of your assets & be mindful to not trust any messages of “warm-hearted customer service” or “help you recover your assets”. BitKeep always puts the interests of users as our top priority and many thanks for your support and understanding!”

• Multiple BitKeep users reported that their wallets were emptied during Christmas.
• The preliminary investigation pointed to several APK package downloads which were hijacked by the attackers and installed with malicious code.
• As a result, the users ended up losing roughly worth $8 million in various digital assets, BNB, ETH, USDT, and DAI.
• BitKeep previously advised users who downloaded the trojanized APK package to transfer all their funds to the official store after downloading the official apps from Google Play or App Store.
• This was its second attack in 2022. Just two months earlier, hackers drained $1 million in funds from Bitkeep after exploiting a vulnerability in its swap feature.