BitKeep Users Suffer a $8M Hack

BitKeep Wallet users lost $8 million due to downloading a hacked APK version. The community sense something shady.

2022, a year that witnessed the highest DeFi hacks, is about to end. But the hackers are determined to drain out more of users’ funds even during the holiday season. BitKeep announced on their official telegram channel that hackers had hijacked some APK package downloads.

The announcement read, “If your funds are stolen, the application you download or update may be an unknown version (unofficial release version).” The team suggests users of the APK version transfer their funds to a wallet downloaded from an official store like App Store or Play Store.

The team promised to make full compensation if the asset loss is caused due to the platform. They released a google form to collect relevant information from the users impacted by the hack.

BitKeep Wallet Users Lost $8 Million

The BitKeep users first reported unusual activities with their wallets on the telegram group yesterday. A user complained that their funds were being automatically sent to a wallet address, “0x66bfda9595c5d70880b142f1f6c6c0fab63e2491” Later, many more users complained of automatic transactions today.

PeckShieldAlert, the blockchain security and analytic company, reported on Twitter that hackers stole $8 million worth of assets. The assets include 4373 Binance Coin (BNB), 5.4 million USDT, 196,000 DAI, and 1233.21 Ethereum.

2022, the Year of DeFi Hacks

According to DefiLlama, hackers grossed over $3 billion this year. Lastly, they exploited over $718 million from DeFi protocol in October, making it the biggest month in the biggest year of crypto hacking activities. 

Every other day, some reports of DeFi hacks make it to the headlines. With this frequency of hacks, the community wonders if the protocols intentionally leave their security settings on low.

It feels like, different #defi protocols intentionally leave their security settings on low. There have been many flash loan attacks, e.g. Cream Finance ($130M), why others don’t learn from their mistakes or do they want to keep the loopholes to blame on?

— Vijay Gir 🦇🔊 (@imvijaygir) December 26, 2022

Additionally, the community members reported that even those who downloaded the official version of BitKeep Wallet suffered from the hack. Is someone lying here? 

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Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.