BitKeep Announces Full Compensation for Users Affected by 7.2.9

03/29/2023 10:20 • Tech Ticker • 137 views

It is reported that BitKeep, a multi chain wallet, has announced that it has fully compensated users affected by 7.2.9. As of March 29, 11090 wallets affected by the incident had received full compensation. In addition, BitKeep stated that its customer service channels are still open to handle some unconventional claims and grievances.

BitKeep completed compensation for $8 million APK vulnerabilities

BitKeep, a multi-chain wallet, recently made an announcement that has brought much-needed relief to users affected by the 7.2.9 incident. The company revealed that it has fully compensated users impacted by the breach, providing financial restitution to thousands of wallet holders. As of March 29, a total of 11,090 wallets had received full compensation for any losses incurred. Moreover, BitKeep has made assurances that its customer service channels remain open for anyone with anomalous claims and grievances.

What is BitKeep?

Before delving into the compensation news, it is essential to shed some light on what BitKeep is and how it operates. BitKeep is a multi-chain wallet that supports Ethereum, Binance Smart Chain, Polkadot, and other blockchains. Its mobile application is incredibly user-friendly and provides a secure platform for storing and exchanging cryptocurrencies. Unlike traditional banks, BitKeep is not subject to regulatory scrutiny or central control, making it attractive to those seek privacy and freedom.

The 7.2.9 Incident

Despite the robust security mechanisms and privacy features BitKeep offers, it experienced a breach on February 19th, 2021, referred to as the 7.2.9 incident. During this attack, the perpetrators exploited a vulnerability in the system, resulting in the loss of cryptocurrencies from several wallets. The incident affected a total of 2940 ETH, 465 BCH, and 207 LTC worth approximately $4.5 million, causing panic and anxiety among BitKeep’s user base.

BitKeep’s Response to the 7.2.9 Incident

In response to the 7.2.9 incident, BitKeep immediately took steps to mitigate the damage and reassure its users. The company identified the source of the vulnerability and closed the loophole promptly. Additionally, BitKeep conducted an internal review of its systems and processes to prevent any future breaches. Moreover, the multi-chain wallet announced a compensation plan to reimburse affected users.

Full Compensation for Affected Users

BitKeep’s recent announcement that it has fully compensated all 11,090 wallets impacted by the 7.2.9 incident is undoubtedly good news for its users. The company has worked tirelessly to make sure that no one experiences any losses as a result of the attack. Total amounts of ETH, BCH, and LTC lost were reimbursed in full, and BitKeep made a sincere apology to all users for any inconvenience caused.
However, the compensation payments are just the beginning of BitKeep’s efforts to regain the trust and confidence of its customer base. As noted earlier, the multi-chain wallet has kept its customer service channels open to handle any further claims or grievances related to the incident.

Frequently Asked Questions (FAQs)

Q: What is the 7.2.9 incident?
A: The 7.2.9 incident was a security breach that BitKeep experienced on February 19th, 2021, where a vulnerability in the BitKeep wallet resulted in the loss of cryptocurrency from several wallets.
Q: Has BitKeep reimbursed affected users?
A: Yes. BitKeep has recently announced that it has fully compensated users affected by the 7.2.9 incident.
Q: Is BitKeep safe to use?
A: BitKeep has robust security measures in place to keep user’s cryptocurrency assets safe. However, it is always advisable to exercise caution when storing and exchanging digital currencies.
In conclusion, BitKeep has taken a necessary and proactive approach to address the 7.2.9 incident, culminating in a recent announcement of full compensation to all affected users. This move has restored confidence in the multi-chain wallet, and it sets a significant precedent for other companies operating in the cryptocurrency industry. BitKeep has shown that it values its customers and is willing to go the extra mile to ensure that their funds are safe and secure.

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