BitKeep Compensates Users After APK Exploit
On March 29, BitKeep announced they had fully reimbursed users affected by the notorious 7.2.9 Android Package Kit (APK) exploit that occurred on December 26, 2022. This malicious activity saw hackers swap the genuine update with a rogue version, leading to an estimated $8 million in losses for unsuspecting users who unwittingly downloaded the malware.
As of March 29, a total of 11,090 affected wallets have been compensated, though BitKeep assures its customer service channels remain operational for processing additional “irregular” claims and appeals. It’s like having a solid insurance plan, except this one was a bit more of a panic purchase!
From BitKeep to Bitget Wallet
In an audacious move, BitKeep is turning the page on its former identity and rebranding as the Bitget Wallet. This transition follows a hefty $30 million investment from Bitget, the cryptocurrency derivatives exchange, aligning BitKeep’s future with a valuation of $300 million.
BitKeep will now have access to the Bitget User Protection Fund, a war chest of $300 million dedicated to mitigating threats from potential future exploits. Let’s hope hackers are on a break – they could contribute to some serious bad vibes in this crypto party!
Leadership Shake-Up
In a twist that sounds straight out of a reality show, incumbent CEO Kevin Como will step down, making way for Karry Cheung, the current chief product officer, to take over. Moka Han, the chief operating officer, expressed pride over BitKeep’s journey: “We’ve positioned ourselves as a reputable crypto wallet with services that go beyond storage,” she commented. It seems the new Bitget Wallet will have an even grander agenda!
The Future of Bitget Wallet
So, what’s next for Bitget Wallet? They plan to sprinkle some tech fairy dust on their offerings with exciting innovations including:
- Multi-party computation
- Account abstraction
- Decentralized identity
- Zero-knowledge roll-ups
These technologies aim to enhance security and functionality of the wallet. After all, with over 9.5 million users in its pocket, they are keen on creating a top-notch experience!
Words from the Leaders
With this significant evolution, Gracy Chen, managing director at Bitget, mentioned, “We’re collaborating with the BitKeep team to enhance DeFi features and offer popular services such as the NFT marketplace.” Sounds like they’re gearing up for an exciting ride in the crypto space!
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