Bitget Becomes the Most Recent Victim of a DeFi Hack, Losing More Than 8 Million

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Last Updated on December 26, 2022 by Bitfinsider

Millions were lost in a hack at BitKeep, a non-custodial wallet held by well-known crypto derivatives market Bitget. Bitget becomes the most recent cryptocurrency platform to be hacked using a DeFi attack just as 2022 comes to a close.

Users on Twitter began to complain on December 26 that their BitKeep wallet had transferred money automatically and without their knowledge. The dubious transactions were quickly acknowledged by Bitkeep in their official telegram group.

The team claimed that the exploit was caused by malicious code that the offenders had downloaded along with APK packages. According to reports, the APK packages were taken over and altered by the hackers. The wallet’s users later downloaded these.

PeckShield, an on-chain analytics company, says the hackers made off with more than $8 million worth of cryptocurrency. This comprised 4373 BNB, 5.4 million USDT, 196,000 DAI, and 1233 ETH, according to the OKLink data monitor.

Additionally, Web3 security company Supremacy Inc. disclosed that the hacker who took advantage of BitKeep was combining the exploited crypto assets using SideShift and FixedFloat. Both of these platforms offer switch services with ease. Additionally, the hacker has so far moved 70,000 DAI and 652 BNB utilizing these services.

As of the time of writing, the BitKeep team was looking into this attack and advised its users to transfer their money to other reliable wallets they may download from the Google Play and App Store.

Additionally, users have been urged to disclose any pertinent data regarding the hack via a Google form. The group made it clear that the BitKeep Security Fund would make up any losses suffered by users as a result of this theft.

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