BitKeep’s preliminary assessment revealed that hackers breached several of its APK package downloads. The wallet’s investigating team observed that $8M cryptos were drained during the DeFi exploit. The BitKeep wallet breach occurred hours after Defrost Finance confirmed v1 and v2 suffered loan attacks on December 23.
Fake APK Downloads Utilized in Exploit
BitKeep users reported unusual draining of their funds on December 26. The victims indicated that transfers were executed without authorizing their transfers.
The investigation conducted by the internal team indicated the hackers breached several APK package downloads they leveraged to install codes implanted by the aggressors.
The update by the multichain crypto wallet warned users of the funds’ theft executed when they downloaded the unofficial release version.
The team warned that hacking was ongoing as the users updated the application downloads. The BitKeep team directed users to initiate funds transfers to wallets officially provided via Apple Store Google Play.
BitKeep Response to Drained Digital Assets
The team instructed BitKeep community members to switch to the new wallet addresses since their usual addresses were breached. Further, affected users were mandated to furnish BitKeep with the completed Google form it provided since the inquiry started.
Also read:The assessment traced $5 million in proceeds to a hacker who drained digital assets from the BitKeep wallet. The investigators admitted that the amount traced to the hackers was inconclusive since the aggressors were transferring the proceeds to various addresses.
Crypto Assets Drained in BitKeep’s Exploit
The assessment by blockchain-based Peck Shield revealed the hackers moved $8 million in crypto assets, including Binance Coin (BNB), Ether and TetherUSDT. The findings of the analytics firm echoed the BitKeep team’s discovery users’ funds moved affected multiple users.
Further, the security firm revealed that users who downloaded the fake APK version suffered from the exploit. PeckShield noted that besides 4373 $BNB and 5.4M $USDT, hackers drained 196k $DAI and 1233.21 $ETH.
The latest BitKeep exploit is set to plunge the wallet into a considerable outflow. The drain dents blow to BitKeep cash reserves since it incurred $1 million in reimbursement to users affected in the previous October 17 exploit.
The $1 million theft of BNB involved a service exploit that swapped tokens. The incident prompted the suspension of services, unlike today when it directed users to switch to a new wallet address.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.