BitKeep, A popular Bitcoin-based Digital Wallet Platform, Was Recently hacked

 

BitKeep, a popular Bitcoin-based digital wallet platform, was recently hacked and millions of dollars worth of the cryptocurrency stolen. While no official party has claimed responsibility for the attack, analysts suspect that it was either an inside job or affiliated with another Bitcoin exchange. Either way, it’s clear that the company needs to tighten their security and improve their wallet encryption methods before they reopen their doors.

A new report has surfaced, shedding some light on the BitKeep security breach that occurred during the holidays.

The details of the theft are still fuzzy, but it appears as if an unidentified individual took control of the company’s forum and then used a so-called “phishing” scheme to gain access to their customer database.

While it’s not yet clear whether money was stolen or goods were taken, the report makes mention of a number of customers who withdrew their funds immediately after learning of the breach.

A phishing scheme is when an individual attempts to obtain sensitive information (such as login credentials or bank account information) by pretending to be someone trustworthy.

They could appear to be a legitimate representative from BitKeep, or even another customer, who is asking for your information in order to resolve an issue with your account.

The scammers will usually pose as helpful individuals who are simply trying to help you out—they may even provide fake support numbers for you to call in case anything seems off about their request.

The best way to avoid being a victim of such a scam is by knowing what you’re dealing with: If you receive any kind of automated email from BitKeep (including password reset emails), make sure that you check the authenticity of the email by going directly to bitkeep.

 

User entry: BitKeep CEO: some users’ private keys are still vulnerable

BitKeep, a startup that offers online Bitcoin wallets and offline paper wallets, is telling its users to change their private keys after it discovered its own security was breached.

The breach happened in 2013 when an old private key was exposed. While the attacker was only able to get $60 worth of Bitcoin at the time, CEO Charlie Shrem says the discovery of this breach means BitKeep’s users could be at risk of losing much more than that today.

The company is sending an email to all affected users and has posted information on its website regarding how to change your keys.

if you think you might have sent Bitcoins to us recently but haven’t received them yet. We’ll be happy to look into your case further and make sure that your Bitcoins get back to you as quickly as possible.

The BitKeep team is deeply sorry for this incident, we have learned from our mistakes, and we are continuing to improve our security procedures with every iteration of our product.