Crypto Casino Stake.com Target of $41.3 Million Hack

Stake.com, the world’s largest crypto casino, has been targeted by a hack that has resulted in a $41.3 million (€38.4 million) loss.

Crypto security firm Cyvers flagged unusual activity linked to the platform’s hot wallets. Following the discovery of the apparent hack, Stake.com moved to suspend all withdrawals and deposits from ETH/BSC hot wallets, leaving users with no access to their funds.

According to web3 security agency Beosin, the majority of the stolen funds ($17.8 million) was withdrawn from the platform’s hot wallet which is on the Binance Smart Chain. Another $15.7 million was withdrawn on Ethereum while a further $7.8 million was withdrawn on Polygon.

In a statement released on X (Twitter), Stake.com announced that it was aware of the suspicious transactions but that all customer funds were safe.

Three hours ago, unauthorised tx’s were made from Stake’s ETH/BSC hot wallets.

We are investigating and will get the wallets up as soon as they’re completely re-secured.

Crypto Casino Stake.com Target of $41.3 Million Hack

BTC, LTC, XRP, EOS, TRX + all other wallets remain fully operational.

Crypto Casino Stake.com Target of $41.3 Million Hack

update: FBI points finger at North Korean Lazarus Hacking Group

Ciaran McEneaney

Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.