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BitKeep Wallet Reportedly Under Attack, Losses Hit $1 Million

Mon, 10/17/2022 - 22:07
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Wahid Pessarlay
BitKeep Wallet swap/routers exploited leading to losses of about $1 million according to PeckShield
BitKeep Wallet Reportedly Under Attack, Losses Hit $1 Million
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Updated: BitKeep has announced specific solutions for compensation. The project's team reportedly going to launch a compensation portal within 3 working days for all victims to apply for refunds. 

BitKeep Wallet, the top crypto wallet in Asia, has come under attack by hackers. According to findings disclosed in a tweet by blockchain security and data analytics company PeckShield, losses in the attack have reached roughly $1 million. 

PeckShield adds that the hackers have likely exploited a swap/router of the multi-chain wallet that integrates wallet, swap, non-fungible token (NFT) market, and decentralized application (DApp) browser in a single location. 

Users of the wallet are advised to revoke permission to the wallet to avoid further losses. This can be done by connecting the wallet to PeckShield's Revoke.Cash platform and removing approval for all tokens of the wallet — including unregistered tokens. 

PeckShield highlighted one of the hack transactions in which the exploiter transferred over 190 tokens over the BNB network. BitKeep Wallet supports over 70 mainnet chains including Bitcoin (BTC), Ethereum (ETH) and Polygon (MATIC). The decentralized Web 3 solution claims to have over 6 million users.  

Hacks continue plaguing the crypto industry 

The BitKeep Wallet exploit comes after PeckShield also revealed last week that 4,600 BNB (valued at $1.25 million at the time) had been transferred from the TRON-based JUST (JST) ecosystem to crypto mixer Tornado Cash, while 2,555 BNB (worth nearly $693,000) still sits in the hacker's wallet. 

Another recent high-profile hack this month was that of Solana-based DeFi protocol, Mango, which suffered a $100 million exploit. Per data from SlowMist Hacked, a platform that tracks crypto exploits, hackers have stolen about $3.3 billion worth of crypto so far in 2022.

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About the author

Wahid is an experienced writer, interested in everything decentralized since 2019.

Before joining U.Today, he wrote for some of the top DeFi and CeFi outlets, bringing in millions of views and educating readers with his knowledge of the industry.