Bitpie Wallet Puts Hacked User Assets in Jeopardy
Bitpie is a mobile crypto wallet app that supports a large number of blockchains and sidechains including the Bitcoin lightning network. It also integrates the BITHD wearable hardware wallet and is available on iOS and Android.
The wallet is non-custodial and your private keys are stored only on your device – boosting your security. It is password-protected and has military-grade encryption.
Security Issues
Bitpie is a mobile crypto wallet and trading platform that claims to attach more importance to the security of users' assets than other similar platforms. The company says that it offers a range of effective security measures to protect user funds, including password protection and data encryption. Additionally, it supports multiple blockchain mainnets and a variety of stable currencies.
The company's security team has recently uncovered a malware campaign targeting Bitpie users. Criminals have developed fake Android and iOS apps that are designed to steal cryptocurrency from victims. The trojan horse apps impersonate legitimate digital wallet services and siphon coins from users' devices. ESET researcher Lukas Stefanko notes that these malicious apps try to tease out victims' recovery seed phrases and send them to attackers' servers or secret Telegram groups.
When you use Bitpie, your seeds and private keys are stored on your mobile device, not on Bitpie's servers. This means that if your mobile device is lost or stolen, your blockchain assets are unrecoverable. For this reason, it is important to back up your wallet regularly. Bitpie recommends you save your wallet seed phrase and private key on paper or other secure storage. In addition, you should use two-factor authentication (2FA) to secure your account.
Deceptive Wallet Apps
The Bitcoin wallet industry faces a variety of fraud risks. Fraudsters use phishing scams, malware attacks, and social engineering tactics to gain access to users’ wallet apps and steal their payment information. This can be done by creating deceptive wallet apps that closely mimic the appearance and functionality of reputable wallets, and by tricking unsuspecting users into downloading them.
For example, an attacker may send a fake email or text claiming to be from a cryptocurrency wallet company and ask them to download a program that will “verify” their account. This app or program is actually malicious and can give criminals control of the user’s mobile device, and thus their digital wallet.
Trusted by over 5 million users around the world, Bitpie Wallet is the safest and easiest way to store, send, and exchange blockchain assets with your face, fingerprint, or passcode. It also protects your assets with the world’s first multisignature wallet for USDT, ETH 2.0 Shanghai upgrade, and is perfect companion for BITHD hardware wallet to secure large amount of your crypto assets.
Update
BitPie is a mobile crypto wallet app with a built-in exchange. It supports a number of different coins and tokens and has competitive exchange rates. The wallet also includes a Dapp browser and real-time market news. This makes it an excellent choice for anyone looking to invest in the crypto world.
The BitPie wallet offers a simple and straightforward onboarding process. The company has a dedicated customer support team that is ready to answer any questions. They also offer a helpful blog with advice for newcomers to the crypto world. The wallet is non-custodial, meaning that users own their private keys and are responsible for storing them. Additionally, the wallet offers military-grade encryption and requires a password to access the wallet.
When you create an account on BitPie, the wallet will provide you with a set of words that form your recovery seed. You can use this to restore your wallet if you lose it or switch phones. This feature is particularly useful if you want to avoid losing your funds.
The wallet also encrypts your private key, so you cannot use it to steal or hack your assets. You can also protect your assets with a password or by linking it to hardware wallets. For example,Imtoken Registration Tutorial , the wallet is compatible with BitHD – the first wearable hardware wallet that you can use to store your assets securely.