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BitKeep Completes Compensation for $8M APK Exploit, Announces Rebranding

Multichain wallet BitKeep has fully compensated users affected by the 7.2.9. Android Package Kit (APK) exploit that resulted in an estimated $8 million loss of funds from users who downloaded the malware on Dec. 26, 2022. BitKeep has reimbursed 11,090 wallets affected by the incident, and its customer service channels remain open to processing "irregular" claims and appeals. The wallet will rebrand to Bitget Wallet following a $30 million investment from Bitget, a cryptocurrency derivatives exchange, and will have access to Bitget's $300 million Bitget User Protection Fund for future security threats. BitKeep CEO Kevin Como will step down, and Karry Cheung will become the new CEO. BitKeep plans to develop new technologies for the Bitget Wallet, including multi-party computation, account abstraction, decentralized identity, and zero-knowledge roll-ups.

(By ZHIYUAN SUN)

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