Claim BonusThis BNB Chain-based Wallet Swap Facility Hacked for More Than $1 Million…
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”.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal 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.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- CFTC Launches “Future-Proof” Initiative to Modernize Crypto and Prediction Market Rules
- Bitcoin Drops Below $90K as Supreme Court Delays Ruling on Trump Tariffs
- Trump Tariffs: U.S. President Threathens 200% Tariffs on France Amid Greenland Dispute
- Breaking: Tom Lee’s BitMine Acquires 35,268 ETH as Staked Ethereum Surges to All-Time High
- Fed Chair Decision: Trump Could Decide on Powell’s Successor Next Week, Scott Bessent Says
- Chainlink Price Prediction After 24/5 Stock Data Launch: What’s Next For LINK?
- XRP Price Eyes a 25% Rebound Ahead of Brad Garlinghouse Statements at Davos Summit
- Why Silver and Gold Prices Are Rising While Crypto Falls Under Tariff Pressure?
- Solana Price Prediction As NYSE Launched Stock Tokenization Platform
- Bitcoin Price Outlook Ahead of Trump’s Davos Speech as Trade War Tensions Ease
- Top 3 Price Prediction for Ethereum, XRP and Bitcoin If Crypto Structure Gets Approved This Month
