BitKeep Exploitation: Users Loss Almost $8 Million Worth of Assets

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BitKeep reported that several users' funds were stolen
  • PeckShield tweeted that almost $8 million worth of assets were stolen from BitKeep.
  • The stolen funds included 4373 BNB, 5.4MUSDT, 196K DAI, and 1233.21 ETH.
  • The exploitation happened after the users were urged to download a hacked APK version by the scammers.

The blockchain analytics and security company PeckShield tweeted that $8 million worth of assets has been stolen from the multichain crypto wallet, BitKeep, possibly because of “downloading a hacked APK version.”

The company, on its Twitter page, announced that several users’ funds including 4373 BNB, 5.4M USDT, 196K DAI, and 1233.21 ETH were among the $8 millions worth of lost assets.

According to BitKeep’s announcement on its official Telegram channel, the wallet has promised the users to refund the stolen assets if the exploit had been a result of the platform’s fault. Also, the officials have put forward an appeal to the crypto exchange Binance to freeze the stolen assets immediately.

In addition, the wallet urged the users to transfer their funds as soon as possible to the official application available on Google Play Store or App Store if they had already downloaded the attacked APK version.

Notably, the source of the hacked APK as well as a majority of the downloads are yet to be identified. Nonetheless, some users claimed that they had received personal messages on social media platforms such as Twitter from suspicious contacts, urging them to download the wallet.

Once the users downloaded the APK through the provided link which was in reality the phishing tool, the scammers were able to hack the device and thus access the funds.

The current attack on the Web3 wallet is the most recent exploitation in a series of attacks that the crypto entities have been facing for the past few months. In October, the platform had a similar attack in which the wallet lost almost $1 million worth of assets.

Notably, some of the other exploitations include the BNB hack in October which lost almost $100 million, and the Solana wormhole bridge hack in February losing almost $320 million.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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