By Michael Scott
BitKeep management has announced compensation plans to repay all the crypto investors affected by last December’s hacking activity. The firm has set aside $8 to compensate the investors for their losses.
BitKeep Wallet Battered by Hackers
At the end of the previous trading year, hackers compromised the system of the Asian-based crypto wallet BitKeep stealing substantial amounts of crypto assets. BitKeep reported that the affected crypto investors downloaded a fake application of BitKeep shared by “bad actors.”
A report shared by transaction tracking experts from PerkShield confirmed that BitKeep’s suspicious transaction involved leading crypto assets such as Ethereum (ETH), Binance Coin (BNB), and Tether (USDT). They argued that the hackers escaped with $8M worth of crypto assets.
Surprisingly, the December hacking incident corresponded to the previous hacking activity in mid-October of the same year. BitKeep lost $1M to hackers who launched trojanized APKs software on the system last October.
BitKeep Compensation Process
On January 18, the BitKeep team addressed the BitKeep Twitter community regarding the proposed compensation plans. The tweet assured the affected investor that the company would refund all lost crypto assets.
According to the tweet, BitKeep is expected to launch a reimbursement portal early next month. It is reported that BitKeep will compensate the troubled investors in two rounds. The first round will be in February when that firm will settle half the amount. The crypto wallet will compensate the remaining amount, translating to $4M by the last week of March.
In addition, the investors will be compensated using the USDT due to the current crypto market condition.
The tweet also unveiled that BitKeep has developed a compensation procedure that involves filing a reimbursement document that will be made available on the company portal. The document will guide the BitKeep team in refunding the victims the complete amount they lost from the hacking incident.
Tracking Reimbursement
At the moment, BitKeep has urged investors to keep a close eye on the portal for further updates on the expected compensation. Also, all official communication on the reimbursement will be conducted on the BitKeep portal.
The investors are urged to be extra careful on any “unofficial communication” from individuals purporting to work with the BitKeep customer service team. The multi-chain crypto wallet informs crypto entrepreneurs to safeguard their digital assets from hackers currently roaming in the crypto hemisphere
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