Despite Being Hacked Twice BitKeep Rakes in Over $10M Users

The decentralized multi-chain Web3 DeFi wallet – BitKeep –  announced that its total user count has exceeded 10 million as of April. Since surviving multiple hacks, the company has witnessed tremendous growth.

In March alone, BitKeep added 560,000 new user accounts as a result of numerous successful campaigns between the company and several prominent blockchains, including Arbitrum and Sui.

BitKeep’s Successful Arbitrum Campaign

BitKeep said in a recent blog post that its Arbitrum campaign saw the successful launch of ARBK, which registered a total of 708,800 on-chain transactions and was airdropped to more than 100,000 active users who participated in campaign-related tasks and activities.

ARBK could be exchanged by participants of the campaign for Arbitrum’s native token, ARB, during the campaign period. Furthermore, it ranked first on Arbitrum’s ecosystem popularity chart with 150,000 token-holding addresses, while its interaction volume reached 330,000.

On the NFT side of things as well, BitKeep fared quite well. The wallet provider claimed that BitKeep NFT Market topped the charts by trading volume on BNB Chain while also leading with respect to the number of active wallets on Polygon. In yet another feat, it reported $28,000 in daily transaction volume on Arbitrum, trailing behind NFT giant, OpenSea.

“BitKeep also placed amongst the list of recommended wallets supported by DappRadar, allowing users to easily connect to the leading Web3 DApp distribution platform from their BitKeep Wallet. Access to 80 new DApps were also added on to BitKeep’s integrated DApp browser in March, with the likes of Maverick Protocol, Defina, TinyTap, Pyme, Sociogram, and many more.”

Meanwhile, BitKeep revealed working on features related to Web3 DID (decentralized identity). It is also in the process of supporting the ZK-Rollup ecosystem in a bid to ramp up its web3 efforts.

Hacks and Subsequent Rebranding

The BitKeep wallet suffered an exploit in October last year, with the hacker pilfering off $1 million worth of BNB. The attack was carried out through a service that enabled token swaps. The wallet provider lost $8 million just two months later. It then pledged to compensate all the victims by March-end.

Last week, crypto copy trading platform Bitget led a $30 million fundraising for BitKeep and also announced its plans to rebrand the crypto wallet service to ‘Bitget Wallet.’

The article was first published on: Apr 4, 2023