BitKeep Wallet Swap on BNB Chain Lost Over $1 Million in Hack

Earlier today, October 18, another wallet sway, BitKeep, became a victim of notorious hacks while losing more than $1 million. The BitKeep wallet was quick to inform all of its users. BitKeep further added that its development team has swung into action to contain the reach of the hacker.

The attack took place on the BNB Chain while BitKeep has also promised to make the full payments. Besides, the wallet swap facility has also initiated a few measures following the hack.

For now, BitKeep has suspended its services to ensure that there are no more asset security issues. Also, its team is communicating and cooperating with other security agencies to track down the hackers. The BitKeep team is working on tracking down the hacker in order to recover the stolen assets.

As said, BitKeep will reimburse all the affected users the full amount. However, it will announce the specific plan of reimbursement later. The wallet swap facility further stated

It will “Encourage people who can assist in identifying the hackers and recovering the stolen assets to contact us. You will be highly rewarded. Thank you in advance”.

BitKeep stated that it will keep its user updated with further details on the matter.

Wallet Hacks in DeFi Space

Wallet hacks in decentralized finance (DeFi) have increased sharply over the last year. Earlier this month, a multi-chain decentralised exchange (DEX) aggregator TransitSwap lost more than $21 million to a hacker exploiting an internal fault in a swap contract.

Similarly, a Solana-based DeFi protocol Mango Market lost more than $100 million with hackers exploiting a cross-bride connecting BNB Beacon Chain (BEP2) and BNB Chain (BEP20 or BSC).

Hacks and exploits in the month of October have reached the peak of 2022. As per the Chainalysis report: “October is now the biggest month in the biggest year ever for hacking activity. So far this month, $718 million has been stolen from #DeFi protocols across 11 different hacks”.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.