BitCap, a digital asset platform, has said it is taking steps to compensate users whose assets were stolen by hackers.
The corporation recently revealed on Twitter that it has created a closed-loop verification system to reduce the possibility of assets falling into the wrong hands.
To verify claims, the system adds multi-dimensional information from victims, such as wallet addresses, stolen funds, and token details.
They plan to pay 50% cash by the end of February and the rest by the end of March, the team added, adding that the compensation portal would go live in the first week of February.
The BitKeep cryptocurrency wallet, which was housed in Asia, was compromised after last trading year, and hackers stole a significant amount of cryptocurrency. According to BitKeep, the affected cryptocurrency investors downloaded a fake BitKeep program that was ‘distributed by bad actors.’
According to a report by Transaction Tracking Experts, Ethereum (ETH), Binance Coin (BNB), and Tether were among the top cryptocurrencies used in BitKeep’s questionable transactions (USDT). They said the hackers took $8M worth of crypto assets.
Unexpectedly, the December hacking incident coincided with earlier hacker activity in mid-October of the same year. BitKeep loses $1M due to hackers. which installed malicious APKs in the system. October.
The company informed affected investors in a Twitter thread that it will return all lost cryptocurrency assets. The thread claims that the business plans to introduce a payment portal.
BitCap will reportedly make two payments to distressed investors. The company will settle the first round in February and pay half of the total.
The remaining amount, which amounts to $4 million, will be repaid through the crypto wallet by the end of March. Additionally, due to the state of the cryptocurrency market, the company will pay investors in USDT.
The tweet further revealed that BitCap has created a compensation process, including a document that will direct the BitCap team to refund the victims in full.
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