BNB Chain-based Wallet Swap, BitKeep, has suspended its services to guarantee that there are no more asset security risks. BitKeep has claimed that it would keep its users updated on the situation.
Due to which it suffered more than a $1 million loss.
The bitkeep wallet notified all of its users immediately. BitKeep also stated that its development team has swung into action to limit the hacker's reach.
The attack occurred on the BNB Chain, and BitKeep has also pledged to make the full payments. In addition, the wallet swap service has taken a few precautions in the aftermath of the incident.
For the time being, BitKeep has suspended its services to guarantee that there are no more asset security risks. In addition, its team is communicating with and coordinating with other security authorities in order to locate the hackers. The BitKeep team is attempting to find the hacker and retrieve the stolen assets.
As previously stated, BitKeep will compensate all impacted users the full amount. However, the specific reimbursement mechanism will be announced later.
BitKeep has claimed that it would keep its users updated on the situation.
Wallet Hacks in DeFi Space
Wallet hacks in decentralized finance (DeFi) have skyrocketed in recent years. Earlier last month, TransitSwap, a multi-chain decentralized exchange (DEX) aggregator, lost more than $21 million to a hacker who exploited an internal flaw in a swap contract.
Similarly, Mango Market, a Solana-based DeFi protocol, lost more than $100 million after hackers exploited a cross-bridge between BNB Beacon Chain (BEP2) and BNB Chain (BEP20 or BSC).
The month of October saw the highest number of hacks and vulnerabilities in 2022. According to the sources, “October is now the worst month of the worst year ever for hacking activities. This month, $718 million has been stolen through DeFi protocols via 11 separate hacks.”
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