On March 29, the multi-chain wallet BitKeep announced that it has fully compensated users affected by 7.2.9. The Android Package Kit (APK) exploit took place on December 26, 2022. On the day of the incident, 7.2.9. BitKeep's APK update was maliciously exchanged by hackers, resulting in an estimated $8 million in lost funds for users who downloaded the malware.
According to BitKeep, as of March 29, 11,090 wallets affected by the incident have been fully compensated. Additionally, BitKeep stated that its customer service channels remain open to handle some "non-routine" claims and grievances.
Meanwhile, BitKeep will change its name to Bitget Wallet, following last week’s $30 million investment in the eponymous cryptocurrency derivatives exchange at a $300 million valuation. As part of the integration, BitKeep will have access to Bitget’s $300 million Bitget User Protection Fund in the event of future security threats. Current BitKeep CEO Kevin Como is also stepping down, while the company's current Chief Product Officer Karry Cheung will become its new CEO. BitKeep COO Moka Han commented: “We have successfully established ourselves as a reputable encrypted wallet, providing a wide range of services, including storage, exchange, NFT market, etc. After joining the Bitget ecosystem, we will be more confident to compete in the global market.”
Meanwhile, Gracy Chen, managing director of Bitget, stated: “We are working with the BitKeep team to bring the most used DeFi features, exchanges, NFT marketplaces and DApps to millions of users in the Bitget ecosystem.” For the next step, BitKeep plans to develop new technologies such as multi-party computation, account abstraction, decentralized identity, and zero-knowledge aggregation for Bitget wallets. Since its inception, the wallet has had more than 9.5 million users.
