Crypto Casino Stake.com Losses Millions to Hackers
Online crypto casino Stake.com announced a breach in its ETH/BSC hot wallets. As a result, the casino lost around $40 million. However, the gambling assured its players that their funds were safe.
During a recent outage, several Stake.com users reported issues with making deposits and withdrawals.
Stake.com said today that all services are back online, including deposits and withdrawals in all currencies.
Crypto Casino Stake.com Hacked
Blockchain detectives PeckShield and ZachXBT traced the money trail. Thus, they found that the hackers stole $15.7 million worth of Ethereum and $25.6 million in Binance Smart Chain (BSC) and Polygon. The hackers stole a total of $41,300,000, making this theft one of the most lucrative crypto heists of 2023.
Investigators believe that state-sponsored threat actors are responsible for the theft from the betting site in Curacao. However, there is no proof pointing that way,
In July 2023, GitHub issued a warning about a user named “Lazarus” who was creating bogus accounts on the code-hosting site to spread malware and social engineering to workers of online gambling companies. According to live dealer casino reports, it has been a banner year for the infamous North Korean threat organization Lazarus, most known for its extensive crypto-heists.
According to casino reviews and news sites, the threat group was related to losing $110 million from CoinsPaid, $60 million from Alphapo, and $35 million from Atomic Wallet between June and July.
As of late last month, the FBI had seen different signals of money laundering and money movement preparatory activities and issued a warning that a North Korean hacking cell was getting ready to cash $41 million worth of stolen cryptocurrencies.
According to Korean sports news reports, Stake.com has been hacked. While this is usually the consequence of a compromised private key, the company has not yet provided any information about what went wrong with its security. Ed Craven, a platform co-founder, has stated that, due to the high risk associated with hot wallets, only a tiny fraction of the site’s digital currency reserves are stored there.
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