Hackers Hit BitKeep and Steal $1 Million in Cryptocurrency

Hackers have stolen $1 million worth of BNB and Polygon cryptocurrency from BitKeep, and, according to the company, intruders could have made it out with much more if they weren’t stopped in time.

The time between two security incidents in the cryptocurrency ecosystem has constantly been shrinking in the past couple of months. More and more companies report hacks, usually after criminals exploit vulnerabilities in the blockchain or other critical components.

BitKeep is a wallet used by multiple cryptocurrencies, which means that its exposure to various attacks is all the more significant. One of the features offered to its users is called Swap, which allows them to change their funds from one currency to another. Swap was the hackers’ target.

“Dear BitKeep Swap user, BitKeep Swap was hacked, and our development team has managed to contain the emergency,” said the company on Twitter. “The hacker has been stopped. The attack happened on BNB Chain, causing a loss of about $1 million.”

Later, the team discovered that both BNB Chain and Polygon had been affected.

Following the hack, the BitKeep Swap service was suspended, and all the major security agencies were informed and are looking for the hacker in an effort to retrieve the stolen assets. The company also promised to fully reimburse the people affected by the hack.

BitKeep also launched a Safety Assurance feature that will detect whether any wallet addresses have over-authorized DApps or have security risks caused by Swap transaction authorizations.

“BitKeep will engage and cooperate with major security agencies, and will upgrade BitKeep’s Security audit management and user safety measurement on a full scale to provide users with real peace of mind. Please stay tuned for updates in the following days,” the company also added.