BitKeep wallet attacked, loses over $1 million in BNB

Users have reported that their funds have been stolen from their BitKeep wallet due to a security breach. BitKeep is currently investigating the matter. It has committed to compensating the entire loss if the mistake turns out to be on the platform. The value of the stolen funds is approximately $3 million.

The reports of the theft were made on the official Telegram channel of BitKeep.

BitKeep has reported that they have noted the concerns and are investigating the matter to reach its root cause. BitKeep has earlier faced a similar attack, taking away the funds of the users. The wallet was previously attacked on October 18, 2022. Its team could defend against the attack; however, the bad actors managed to take away a certain portion of BNB.

The token was then transferred to Tornado Cash in the form of 100 BNB each to complete the set for a total of 4,300 BNB, amounting to nearly $1.18 million.

BitKeep had committed to compensating for the loss. It did so by the end of October.

Crypto wallets face similar attacks very often. What makes BitKeep special is the fact that the team responds to such queries faster than others. Check out the list of wallets that compete with BitKeep in responding faster to similar queries and resolving issues.

More developments and stories are awaited in the case of BitKeep.

Beosin Blockchain Security is reportedly investigating the matter. The security firm deals with smart contract audits, the recovery of stolen cryptocurrency, and monitoring risks.

BitKeep has more than 8 million users worldwide. It supports over 245 400 tokens and has been registered with Safe Operation for five years. BitKeep is backed by over 80 blockchain networks, allowing ecosystem users to investigate a variety of non-fungible coins, DAOs, and DeFi protocols.

Users can register on the platform to explore comprehensive trends in the decentralized exchange market, NFT market, and decentralized application store. Its operations are backed by investors like Dragonfly Capital, A&T Capital, Foresight Ventures, Bitget, and Kucoin, among others.

Anyone in 168 countries can utilize BitKeep to manage their digital assets with ease. The decentralized multi-chain cryptocurrency wallet is committed to delivering a secure and convenient asset management experience. The business initiative is supported by relationships with Solana, TRON, BNB Chain, AVAX, and OKX Chain. BitKeep intends to give users a convenient and user-friendly decentralized portal.

Since its founding in May 2018, BitKeep has accomplished a number of significant milestones. In May 2019, for instance, the company expanded its operations to the international market and subsequently registered 1.5 million users globally. The most recent advancements occurred in March 2022 and May 2022, when BitKeep opened an NFT marketplace and Dragonfly led a $15 million Series A funding round.

Theft of funds is a serious matter, particularly if it exceeds $3 million. BitKeep will likely release an update soon.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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