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Crypto Wallet BitKeep Hacked for $1M in BNB Chain, Polygon Tokens

Crypto Wallet BitKeep Hacked for $1M in BNB Chain, Polygon Tokens

Crypto Wallet BitKeep Hacked for $1M in BNB Chain, Polygon Tokens

BitKeep will launch a compensation portal within three days and says it will reimburse 100% of the tokens stolen from users.

BitKeep will launch a compensation portal within three days and says it will reimburse 100% of the tokens stolen from users.

BitKeep will launch a compensation portal within three days and says it will reimburse 100% of the tokens stolen from users.

AccessTimeIconOct 18, 2022 at 2:07 p.m. UTC
Updated Oct 18, 2022 at 2:45 p.m. UTC

Crypto wallet BitKeep was hacked for over $1 million worth of BNB Chain and Polygon-based tokens during early Asian hours on Tuesday, developers said.

BitKeep supports tokens from more than 30 blockchain networks such as Ethereum, Polygon, Solana and BNB Chain and claims to have more than six million users.

The wallet’s Swap product was hacked early on Tuesday.

“Our development team managed to contain the emergency and stopped the hacker,” the team said in a tweet Tuesday morning, adding that it will compensate all user losses.

At time of this writing, the Swap service was paused to avoid further security breaches.

BitKeep said it will launch a compensation portal within three working days for all victims to apply for a refund. The team added it was in contact with relevant security agencies in an attempt to catch the attackers behind the incident.

The attack is the latest in a long list of exploits this month. October has already become the worst month ever for attacks in the history of cryptocurrencies.

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Shaurya is an analyst/editor for CoinDesk's markets team in Asia.