Hackers Steal $8 Million From BitKeep Wallets In Latest Decentralized Finance Exploit

Though a lot of people are still celebrating the holidays, exploiters are attacking the DeFi sector, extracting up to $8M in a new wallet exploit on BitKeep. A few customers of BitKeep (a multichain wallet for cryptocurrency) have reported that the funds in their possession were being extracted and transacted, though no operations were being done by them with their wallets.

Hackers Again Loot BitKeep Wallet Draining $8 Million Worth

The team of BitKeep, on their formal Telegram group, confirmed that a few APK packages got hijacked by the exploiters. As per them, the consumers downloaded and installed the respective package with the code embedded by the hackers.

The team informed consumers that if they discover that their funds have been stolen that the possible reason is that the package updated or downloaded by them are hijacked versions.

As the hack is ongoing, the team of the company is persuading the clients to transact their funds to the wallets released by official sources such as Apple App Store or Google Play. In addition to this, the team advises the community participants to utilize the latest developed wallet addresses because the former addresses may in advance be hijacked by the exploiters.

Drained Assets Include ETH, DAI, USDT, BNB Tokens

To assist with the inquiry, the team of BitKeep is pushing customers to submit the necessary materials via a Google form provided by them.

On the official Twitter channel of PeckShield (a blockchain security company), it was shared that the funds of many consumers were stolen in ETH, DAI, USDT, and BNB tokens. As per the platform, up to 1233.21, 196k DAI, 5.4M USDT, and nearly 4373 BNB tokens were exploited.

According to PeckShield, the cumulative drained figure equaled almost eight million dollars. As per the reports, a suspected wallet address linked to the hacker has above $5M worth of digital assets.

The exploited amount cannot be categorized as conclusive as the exploiters are continuously transacting funds to diverse wallet addresses. October 2022 has proved to be the worst month in the case of DeFi hacks as the attackers got furious about the industry.

The BitKeep wallet was formerly exploited on the 17th of October this year. At that time, the exploiter took away up to $1 million amount of BNB. That hack was organized via a feature that allowed token swaps.

As a result of that, the wallet company put a stop to the respective service. In addition to that, the platform assured that it would compensate the consumers who were victimized in the hack.

According to the report published at that time by PeckShield, the exploited amount surpassed that $1M mark. The respective attack was carried out on BNB Chain. After that, the firm assured that the hack was contained by it.

During the whole month, many attacks stunned the crypto community. Chainalysis (another blockchain security platform) asserted that nearly eleven attacks targeted the DeFi protocols in the respective month.

As noted by Chainalysis, the hack events were increasing in number because of the DeFi sector. In the previous month, BitKeep introduced a non-fungible token marketplace to offer several services.

Those services included LaunchPad, FreeMint, data inquiry, ranking, bulk listing, and NFT transactions. All of the above-mentioned services are compatible with BNB Chain, Polygon, and Ethereum.