BitKeep Swap Begins Compensating Users from Last Year’s $8M Hack

• BitKeep Swap compensates victims of last year’s $8 million exploit.
• At least 6,731 confirmed addresses have been approved for 50% refunds.
• Last October, BitKeep’s official wallet suffered a $1M exploit. 

BitKeep Swap, a Web3 multi-chain wallet which was repeatedly targeted last year by bad actors, has begun compensating its users affected by the recent $8 million exploit. On Twitter today, BitKeep’s official handle confirmed that all verified victims had received partial compensation as of this month.

According to BitKeep, at least 6,731 confirmed addresses have been approved, and the relevant users have received 50% of the funds. It added that the remaining would be delivered by early march.

Regarding the February compensation claim process, BitKeep said users with unconfirmed login statuses and victimized addresses would enter the process for appeals. And as of February 28, over 3,850 requests generated have been reviewed. However, only 2,785 addresses were approved. The official statement read:

Reasons for an unapproved status include failing to confirm the login details of the hacked package or the use of the hacked package to store tokens and fake addresses.

On December 26, blockchain security firm Peckshield reported that roughly $8 million of BitKeep users’ funds were stolen via a hacked APK version of the crypto wallet. The exploit included 4373 Binance Coin, BNB, $5.4 million USDT, $196k DAI stablecoin, and 1233.21 Ethereum tokens.

The BitKeep team confirmed the exploit on its official Telegram account and said the hackers hijacked some APK package downloads, which resulted in the loss of funds for its users. In October, the crypto firm announced that its official wallet suffered an exploit with over  $1 million in damage via the BNB Chain.