Stake.com Swiftly Resumes Operations After $41M Hack

Summary

• Stake.com has already resumed deposits and withdrawals within five hours, following a $41.3 million hack.
• The casino assured users of the safety of their assets, including their Bitcoin, Litecoin, and XRP wallets, which remained fully operational.

Barely five hours after falling victim to a staggering $41.3 million hack, popular crypto casino Stake.com has reopened deposits and withdrawals for users. Blockchain security experts confirmed the breach, which saw $15.7 million drained from Ethereum, $7.8 million from Polygon, and a significant $17.8 million from BNB Chain.

In a previous statement confirming the hack, the betting platform assured users of the safety of their funds. Stake also confirmed that its Bitcoin, Litecoin, and XRP wallets, among others, remain fully operational. 

The breach's timeline unfolded with an initial transfer of approximately $3.9 million in Tether USDT at 12:48 PM UTC. Subsequent transactions removed over 6,000 Ether valued at roughly $9.8 million at current market rates. The attacker continued their pillage, obtaining other tokens including, $1 million in USDC, $900,000 in DAI, and 333 Stake Classic (STAKE) ($75), contributing to the initial $15.7 million loss on Ethereum.

Despite the swift response and recovery efforts, the crypto world remains on high alert for further security breaches, underlining the need for robust cybersecurity measures in the digital asset space.