The news of an exploit leading to the theft of approximately $8 million in customer funds has sent shockwaves throughout the crypto community, particularly amongst users of Singapore-based multi-chain decentralized cryptocurrency wallet BitKeep. According to BitKeep officials, the exploit involved a hacked APK version of the BitKeep wallet, which some users were unfortunate enough to download. The incident has emphasized the importance of exercising caution and vigilance when downloading and using cryptocurrency wallets, as even the most reputable services can still be susceptible to malicious attacks.
Users drained accounts happened through a hacked APK version of the app
Reports of the DeFi wallet BitKeep being hacked of $8M have surfaced, suggesting that the exploit was masterminded through a hacked version of the app’s APK. It appears that some users unknowingly downloaded the malicious version of the app, leaving them vulnerable to the hackers. This breach is a reminder to users that downloading apps from untrusted sources can be dangerous and may lead to the loss of valuable information or funds. It is important to always do your due diligence before downloading any app to ensure that it is the authentic version and has not been compromised.
8 Best Practices regarding the use of your crypto app
- Always check the app’s reviews before downloading
- Don’t share your account details with anyone
- Set up two-factor authentication when possible
- Be aware of fraudulent actors and scams
- Update security software regularly
- Use strong passwords and unique usernames
- Be wary of links in emails and on social media
- Don’t use public Wi-Fi networks to access financial apps
More about DeFi Wallet BitKeep
BitKeep is a decentralized finance (DeFi) wallet that enables users to store, transfer, and earn interest on their digital assets. It is designed to provide users with a secure and reliable way to manage their funds while taking advantage of the increasing financial opportunities available in the DeFi space. BitKeep also provides a wide range of customization options and tools to help users customize their wallets. The platform is built on top of the Ethereum blockchain, making it compatible with many different tokens and assets. BitKeep also offers users a wide range of options for managing their wallets and earning interest, including lending and staking, as well as other unique features such as the ability to set up automated payments and receive real-time notifications.