BitKeep, a multi-chain decentralized crypto wallet based in Singapore, suffered a hack in October, losing $1 million when a hacker gained access to vulnerable smart contracts. In this hack, about $8 million was stolen from BitKeep。

BitKeep reported via its official Telegram that the vulnerability involved some users downloading the Android Application Package File (APK) version of the hacked BitKeep wallet. These users' funds are siphoned off when they are not using the wallet.

According to blockchain analytics and security firm PeckShield, the amount of cryptocurrencies stolen amounted to about $8 million, including Binance (BNB), Ether (ETH), Teda (USDT) and DAI. The individuals involved have transferred most of the hacked funds to the BNB chain.

2022 was the worst year ever for the crypto market, with cybercriminals targeting the decentralized finance (DeFi) space. PeckShield reported in November that DeFI hacks caused losses of more than $3 billion, more than double the 2021 total.

Some Twitter users confirmed that the bug was caused by an individual using an unofficial BitKeep wallet. Some wary cryptocurrency enthusiasts have reported finding suspicious emails after installing the above apps. BitKeep has called on Binance to freeze its stolen assets as soon as possible.

According to BitKeep, if the investigation shows that the breach was caused by an error on the part of the company, the stolen assets will be returned to the user.

BitKeep stressed the importance of users trading through the official app and website to avoid the loss of funds.