BitKeep Wallet To Refund Users In $1M Hack

BitKeep Wallet To Refund Users In M Hack

Crypto wallet BitKeep has been hacked for more than $1 billion in BNB Chain and Polygon-based tokens on Tuesday (October 18), a Coindesk report said.

The BitKeep Swap product said it was hacked early Tuesday. The team said they had “managed to contain the emergency and stopped the hacker”. The exchange service was paused as of the report to avoid further breaches.

BitKeep said it plans to roll out a compensation portal within three business days to allow victims to apply for refunds. The company said it was also talking to relevant security agencies to try to catch the attackers.

The attack is another in several that have taken place in October alone, which has become the worst month ever for crypto hacks in the history of digital assets.

BitKeep supports tokens from over 30 blockchain networks including Ethereum, Polygon, Solana and BNB Chain, which claims to have over six million users.

In other crypto news, U.S. Rep. Jim Himes (D-Conn.) has said the U.S. should push for the development of a CBDC pilot to retain the competing player in digital assets, Coindesk wrote.

Speaking on CoinDesk TV’s “First Mover,” he said the United States should continue working on a digital dollar so it could use them if the need arose.

“Why would you end the game before you even know what the game is going to be like?” Himes said. “We could do the research. We could set up a pilot program for a CBDC.”

CBDCs are still a new form of money, but pilots have been underway in various countries, including Australia, Iran, Japan and Russia.

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Himes said there was a possibility that a CBDC would not be adopted in the United States, but he believed there was a case to be made to keep up with the technological innovation and see where it goes.

Himes, who currently serves on the House Financial Services Committee’s subcommittee on national security, international development and monetary policy, said he had some ideas for how a CBDC could be used — including creating a CBDC platform for investors to build payment systems, money transfers and businesses; which can help with innovation in the private sector.

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