BitKeep wallet to reimburse users for $1 million hack

Crypto wallet BitKeep was hacked for more than $1 billion in BNB chain and Polygon-based tokens on Tuesday (October 18), according to a Coindesk report.

The BitKeep Swap product said it was hacked early Tuesday. The team said it “managed to contain the emergency and stop the hacker.” The swap service was halted at the time of the report to avoid further violations.

BitKeep plans to set up a compensation portal within three working days for victims to request a refund. The company said it was also talking to relevant security agencies to try to catch the attackers.

The attack is another of several that took place in October alone, which has become the worst month ever for crypto hacks in digital asset history.

BitKeep supports tokens from over 30 blockchain networks including Ethereum, Polygon, Solana, and BNB Chain and claims to have over six million users.

In other crypto news, US Rep. Jim Himes (D-Conn.) has said that the US should push ahead with the development of a CBDC pilot to stay competitive with digital assets, Coindesk wrote.

Speaking on CoinDesk TV’s “First Mover,” he said the US should keep working on a digital dollar so they could use it if needed.

“Why would you leave the game before you even know what the game is going to be like?” Himes said. “We could do the research. We could set up a pilot program for a CBDC.”

CBDCs are still a new form of money, but pilot projects have been conducted in various countries including Australia, Iran, Japan and Russia.

Himes said there’s a chance a CBDC might not be launched in the US, but he thinks there needs to be a case for keeping up with technological innovation and seeing where it goes.

Himes currently serves on the House Financial Services Committee subcommittee on national security, international development and monetary policy and said he has some ideas on how a CBDC could be used — including creating a CBDC platform for investors to build payment systems, remittances and businesses . that could help in private sector innovation.

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