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Stake.com Hacked For $41.3 Million

by BSCN

September 4, 2023

The world’s largest crypto-casino has reportedly experienced a major security breach, leading to large sums of cryptocurrency, across Ethereum, Polygon and BNB Chain, being drained from the platform’s wallets.

Stake.com, the world’s largest cryptocurrency-oriented casino platform, has reportedly been hacked for as much as $41.3 million worth of digital assets. Reports are currently pointing to a potential key-leak as the cause behind the security breach.

First highlighted by @CyversAlerts on X (Twitter), a suspicious, Ethereum-native transfer of approximately $16 million worth of ETH, USDC, USDT, and DAI, was made from Stake.com’s Ethereum address to a separate wallet address, which then converted the assets into ETH.

Despite the scale of the attack, Stake.com was swift to respond on X (Twitter) to confirm that services had resumed in full.

Adding to the saga, @ZachXBT highlighted that a further $25.6 million worth of cryptocurrency had been drained from the platform, on Polygon and BNB Chain.

What is Stake.com?

Stake.com is by some margin the largest cryptocurrency-centric online gambling platform. Founded in 2017 and headquartered in Curacao, Stake.com saw around $2.6 billion in revenue in 2022. The platform accepts cryptocurrency deposits and withdrawals and has received significant marketing support from music artist, Drake.

Disclaimer

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