Assets Worth $8 Million Stolen From Bitkeep Wallets by Hackers via Cloned App

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  • BitKeep experiences the second hijack of its assets since October.
  • Internet fraud succeeded due to a bogus APK app.

E-fraud advancement?
The year 2022, adjudged as the worst year to date for the Cryptocurrency industry has seen a spike in cybercrimes, and with each new experience, fraudsters’ approaches and methods get better. A fresh incidence is the one reported by PeckShield, a blockchain security watchdog indicating that over $8 million worth of cryptocurrencies has been pilfered by hackers from Bitkeep wallets, thereby making it the second reported case within the same firm since October.

Crypto icon in the screen with binary code ( array of bits ). 3D Illustration.

Crypto icon in the screen with binary code ( array of bits ). 3D Illustration.

How did this happen?
The cyberpunks most probably cloned a separate variant of the Android Package Kit (APK) app that carried some of the features of the original one and which will not have been easily detected by the unsuspecting targets. Tapping on the pseudo app to download the BitKeep wallet for use, automatically exposes the victim’s data and other information to the online swindlers.

What next?
BitKeep released a timely message advising its users to transfer their remaining assets to a newly created wallet from other digital distribution services (like Play Store). Affected customers also have the option of giving the business the pertinent details they need to continue their investigation into the circumstances behind the hack and propose a fix. There is also the possibility that BitKeep might make remittances to the affected customers if it is proven that the hacker capitalized on internal lapses within the company.

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