Web3Auth disputes $6.01 million Keplr theft estimate, says funds went to recovery wallets
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Web3Auth pushed back on the initial $6.01 million theft estimate tied to Keplr, saying the funds were routed to recovery wallets rather than lost. The dispute centers on a security incident affecting the social-login wallet stack, with the two sides differing over how much was actually compromised. The episode underscores the exposure of social-login wallets and the difficulty of sizing crypto breaches in real time. What to watch next is whether on-chain tracing confirms the recovery-wallet explanation and whether the final loss figure is revised.
Muhabbit's AI wrote this summary in its own words from Crypto Briefing's report. It can get details wrong, so check the source.
Named in this story
Keplr, Web3Auth, recovery wallets