BitKeep remains on track to fully compensate victims of $8M APK exploit

According to an authoritative Telegram connection connected March 1, Singaporean cross-chain crypto wallet developer BitKeep says it has reimbursed 50% of idiosyncratic assets mislaid during a information breach stemming from Dec. 26, 2022. On the day of the incident, an estimated $8 million was stolen by hackers aft BitKeep's APK 7.2.9 (Android Package Kit) installation bundle was hijacked and swapped. Users who downloaded the malware subsequently saw their backstage keys compromised, starring to the theft of assets. 

As told by BitKeep, a full of 6,731 verified addresses were breached during the incident. The steadfast has since completed reimbursing 50% of stolen assets successful the affected addresses, with "expedited processing" for the remaining 50% of funds. BitKeep says it volition implicit its compensation program up of docket and merchandise the remaining funds wrong 2 weeks.

In a connection to Cointelegraph, a spokesperson for BitKeep said the institution has yet to retrieve the remaining assets done instrumentality enforcement efforts, and each reimbursements are "currently coming retired of the company's ain pockets, including those to beryllium completed successful the adjacent future." As told by the spokesperson:

"BitKeep is adamant astir the information of users' assets and that is wherefore we person stepped up to instrumentality work for each damages arsenic a effect of the incident. Users' losses are being compensated by BitKeep's 2022 gross and its Secure Assets Fund, and we volition implicit each reimbursements by March. Finally, we would similar to explicit our gratitude to our users for their spot and support, arsenic good arsenic to our partners for moving with america to flooded the caller challenges."

On Dec. 29, 3 days aft the incident, BitKeep announced that it had alerted instrumentality enforcement and would reimburse 100% of users' losses. The wallet presently has implicit 8 cardinal users worldwide. Last May, the steadfast raised $15 cardinal successful its Series A astatine a valuation of $100 million. 

— BitKeep Wallet (@BitKeepOS) March 2, 2023