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BitKeep Launches Compensation Portal to Return $8 Million Stolen by Hackers

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• BitKeep, a popular wallet provider, recently revealed that it will launch a compensation portal in the first week of February in order to compensate victims of its $8 million exploit.
• 50% of the stolen funds are expected to be returned to users by the end of February, and the remaining funds by the end of March.
• The asset valuation of the compensation will be converted to USDT stablecoin in order to avoid price fluctuations.

Popular crypto wallet provider BitKeep recently revealed that it will soon launch a compensation portal in order to compensate victims of its $8 million exploit. This announcement came after investigations by BitKeep’s technical team, as well as security agencies, into the incident. The investigations revealed that hackers had stolen the funds by exploiting a vulnerability in the wallet’s system.

In a series of tweets, BitKeep stated that the compensation portal will be launched in the first week of February. It also revealed that the lost funds will be returned to the affected users in two phases. 50% of the stolen funds are expected to be returned to users by the end of February, while the remaining funds will be distributed by the end of March.

Additionally, the asset valuation of the compensation will be converted to USDT stablecoin in order to avoid price fluctuations. BitKeep has also devised a closed-loop verification system that includes the affected users‘ multi-dimensional information, such as wallet addresses, stolen amounts, and token details.

The wallet provider has also taken steps to enhance its security system. It has implemented a two-factor authentication process and has instructed users to use a secure password system. BitKeep is also working on a comprehensive security audit to ensure the safety of its platform and users.

The wallet provider has been working with law enforcement agencies to investigate the incident and ensure that the hackers are punished for their actions. BitKeep is also offering legal support to victims of the exploit to help them recover their funds.

The incident has highlighted the need for secure wallet providers and has spurred the industry to take measures to protect users’ funds. BitKeep is committed to ensuring the safety of its users and is working to restore the confidence of its users.