The Bitkeep wallet was exploited and drained of $1 million in a recent hacking attempt

The Bitkeep wallet was exploited and drained of  million in a recent hacking attempt

  • The Bitkeep wallet was recently hacked for $1 million
  • The hacker exploited the wallet’s exchange feature to steal $1 million worth of crypto funds

In the latest hacking attempt, the Bitkeep wallet was recently exploited by a hacker, resulting in the wallet losing almost $1 million in crypto funds.

The Bitkeep wallet was exploited in a recent hacking attempt

The Bitkeep wallet is the latest victim of an online hacking attempt that resulted in the wallet losing nearly $1 million in funds. According to blockchain security firm PeckShield, the attacker allegedly manipulated the exchange function of the wallet to siphon the money out of the protocol.

Bitkeep later updated its users via Twitter, adding that the wallet had indeed suffered from a massive exploit. The wallet’s team further shared that the hacking attempt was made on the BNB chain and that the development team had managed to stop the hacker.

The wallet’s team later provided a list of extensive restrictive measures to further protect users from having their money stolen. The platform informed users that the development team would immediately suspend the exchange function on the platform, followed by establishing contact with security agencies to investigate the hacking incident and recover the stolen funds.

Bitkeep will also refund the stolen amount back to the users. A detailed plan outlining the refund schedule will be shared by the Wallets team later. The platform will also reward users who help the team identify potential culprits involved in the latest hacking attempt.

Launched in 2018, Bitkeep is a decentralized wallet that supports cross-chain transfers, providing 70+ mainnets in addition to supporting 220,000+ cryptoassets.

Image: BitKeep/Twitter

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