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BitKeep Finally Compensates All $8M APK Exploit Victims, Announces Rebranding

BitKeep, a multichain wallet, stated on Wednesday that it has wholly refunded users who were hit by the 7.2.9 APK attack last December.

On December 26th, hackers swapped the 7.2.9. APK upgrade BitKeep released for its users with a virus. As a result, those who downloaded the virus lost all their assets.

The worth of assets lost was about $8 million.

BitKeep Announces Rebranding To Bitget Wallet 

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The multichain wallet provider noted that the 11,090 wallets affected in the attack had received total compensation. However, BitKeep said that its customer support channels would continue to be available to process several random appeals and claims by other users.

Meanwhile, BitKeep also announced that it is going through a rebranding process and will now be known as Bitget Wallet. This rebrand comes on the heels of a $30 million funding by Bitget, a crypto derivatives exchange, last week.

Notably, the Rebranding is good news for BitKeep. To avoid future security risks, BitKeep can access the Bitget User Protection Fund, worth over $300 million.

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Meanwhile, there is also a reshuffle at the company’s helm of affairs. Kevin Como, the current CEO of BitKeep, will step down from his position. Karry Cheung, the company’s chief product officer, will be promoted to CEO.

The chief operating officer at BitKeep, Moka Han, commented: “the company has established itself as a major firm in the crypto wallet sector offering a wide range of services, such as storage, swapping, and launching an NFT marketplace. Being part of the Bitget community will allow us to compete with other crypto wallet providers in the international market.”

BitKeep Pursuing New Technologies For The Bitget Wallet 

Furthermore, Bitget’s Managing Director, Gracy Chen, said: “we are collaborating with the BitKeep crew to offer several services to its millions of customers. Some of the services include DApps, swap, and an NFT marketplace.”

Moving forward, BitKeep is evaluating the usage of new technologies, like zero-knowledge roll-ups, account abstraction, decentralized identity, and multi-party computation for its wallet services. Interestingly, the Bitget Wallet currently has more than 9.5 million users.

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Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

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