BitKeep Wallet swap/routers exploited leading to losses of about $1 million

Hackers have targeted BitKeep Wallet, Asia’s most popular crypto wallet. According to PeckShield, a blockchain security and data analytics startup, damages in the hack have reached over $1 million.

BitKeep Wallet Reportedly Under Attack, Losses Hit $1 Million

According to PeckShield, the hackers most likely used a swap/router of the multi-chain wallet, which combines a wallet, swap, non-fungible token (NFT) market, and decentralized application (DApp) browser in a single spot. To minimize additional losses, users of the wallet are encouraged to remove authorization to the wallet. Connect the wallet to PeckShield’s Revoke.Cash platform removes approval for all wallet tokens, including unregistered tokens.

PeckShield emphasized one of the hack transactions in which the exploiter moved more than 190 tokens across the BNB network. BitKeep Wallet is compatible with more than 70 mainnet networks, including Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC). According to the company, the decentralized Web 3 solution has over 6 million users.

PeckShield announced last week that 4,600 BNB (about $1.25 million at the time) had been moved from the TRON-based JUST (JST) ecosystem to crypto mixer Tornado Cash, while 2,555 BNB (worth approximately $693,000) remains in the hacker’s wallet. Another high-profile attack this month was the Solana-based Defi protocol, Mango, which was victimized by a $100 million exploit. According to SlowMist Hacked, a portal that analyzes crypto vulnerabilities, hackers have stolen over $3.3 billion in cryptocurrency in 2022.

BitKeep stated that its development team could contain the attack, adding that the hacker was stopped before he inflicted more damage. Nevertheless, the team has decided to suspend its swap service to prevent future security issues and will work with major security agencies to track the hacker.

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