- Users' wallets on BitKeep were exposed due to a security flaw.
- Theft of user payments has been reported by users.
- Bitkeep is conducting an investigation, and if the platform is found to be at fault, users will be compensated.
The BitKeep Web3 Multi-chain Wallet was allegedly responsible for a security lapse that exposed the wallets of BitKeep users, according to a report from December 26.
A reliable multi-chain Web3 DeFi wallet to manage your crypto assets. BitKeep supports 80+ blockchain networks and 223500+ tokens.
The BitKeep team has confirmed that they have observed this and are looking into the issue right away. According to the site, the BitKeep Security Fund would provide complete compensation if the platform causes asset loss.
The multi-chain wallet for BitKeep has been breached previously. The BitKeep Swap multi-chain wallet was compromised on October 18. The hacker's attack was stopped despite the development team's rapid action and efforts to prevent it. However, the attack that targeted BNB Chain resulted in damage of around $1 million.
The platform's services are then stopped to make sure there aren't any additional issues. Crypto security firms that monitor data claim that BitKeep Swap attackers sent 4,300 BNB (or roughly $1.18 million) in stolen money in the form of 100 BNB each to Tornado Cash.
The user compensation plan was finished by the end of October, and BitKeep will fully reimburse all impacted users.
WalletConnect, a Web 3.0 communication protocol that is linked to the multi-chain wallet BitKeep, was recently released by the platform, which sees BitKeep as a key component of the "Wallet + dApp" ecosystem.
The new feature, according to the statement, would enable Users to use WalletConnect to securely communicate with all connected dApps by scanning a QR code on the browser or accessing the APP using Deep Linking.
Although hacks continue to take place on BitKeep. However, the response from the platform can also be seen quite quickly. Follow us to stay up to date with the latest developments in the story.