The multi-chain crypto wallet was robbed of $1 million in crypto tokens. The users who were robbed had approved their tokens on BitKeep’s swap service – called a swap router – on the BNB Chain and Polygon.
Reports said that the stolen funds were later scattered through Tornado Cash’s crypto mixer to avoid being traced.
The team tweeted, “BitKeep Swap was hacked, and our development team has managed to contain the emergency and stopped the hacker. The attack was directed to the BNB Chain, causing a loss of about $1 million.”
The hacker was able to seize users’ funds by exploiting a previously contained logic error that allowed them to make a malicious call.
The exploit was exposed to the hacker as BitKeep’s swap contract lacked input validation, which further allowed the hacker to spoof input values. It reveals that the hacker was able to make illegitimate swaps from addresses that had approved to spend on BitKeep’s swap router.
Victims of the exploit shall be refunded, according to BitKeep.
“BitKeep will launch a compensation portal within 3 working days for all victims to apply for a refund,” Bitkeep said.
Other Recent Hacks
Although small in comparison to other hacks, the hack on BitKeep is another case of exploits that have hit the crypto sector this month.
According to Chainalysis, in October alone, more than $700 million has been lost across more than a dozen notable exploits.
Source : Blockchain.news
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