The moment has arrived 🎉 After accepting a $30M investment from @bitgetglobal, we are revamping the brand, restructuring the management team and strengthening the overall security system.
A week ago, we received a $30M investment from Bitget, to increase its shareholding and to become the controlling stakeholder of us. Beyond extending the exchange’s range of services, the investment also involves its support for our global expansion and security upgrades.
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We have started a rebranding that aims to deliver a more uniform visual presence as part of the Bitget ecosystem. First of all, our name is changing to Bitget Wallet, and the updated logo, app, and website will undergo stylistic alterations in the coming weeks.
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Leveraging Bitget’s expertise in building a robust crypto trading platform, we are taking multiple approaches to evolve its security infrastructure, including a more stringent pre-release review process, partnerships with security auditing firms like Certik…
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…the inclusion of MD5 verification for APK packages, and the support of hardware wallet providers like KeyStone. The integration will also allow our users to be protected by the $300M Bitget User Protection Fund in the event of any potential security threats in the future.
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We have successfully compensated all eligible users who had their funds compromised due to an unprecedented external attack in late 2022. In the future, we will be working closely with Bitget and continue to upgrade existing security measures and protocols.
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In addition, we plan to build a more product-focused team. At the management level, Kevin Como, one of the co-founders at BitKeep, will be stepping down as CEO of BitKeep. Karry Cheung, the current Chief Product Officer (CPO) of BitKeep, will be promoted as the new CEO.
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Several talents from Bitget will join our R&D and security team to improve the service stability and security. Following the investment, BitKeep will continue to function as an independent entity both operationally and structurally.
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Moving forward into the rest of 2023, we will continue to enrich the suite of product offerings and will be looking to delve into the realms of MPC (multi-party computation) and AA (account abstraction).
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Moreover, we are also developing features related to Web3 DID (decentralized identity) and are in the process of supporting the ZK-Rollup ecosystem, providing users with seamless access to everything they could need as they explore the frontiers of Web3.
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If you have any questions about #BKB, please refer to this Twitter thread👇
Here is a summary of the BitKeep attack on Dec 26, 2022:
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1/ At 3-4 AM GMT+8 on December 26, 2022, a large-scale hacking incident occurred on BitKeep. After preliminary investigation, this large-scale hacking incident has been identified as a malicious fund attack with thousands of users involved.
2/ After preliminary investigation by the team, it is suspected that the latest BitKeep 7.2.9 APK downloads have been hijacked by hackers and installed with code implanted by hackers.