Crypto casino Stake reopens withdrawals just 5 hours after $41M hack - Invest in web 3.0 and blockchain technology for the next generation of online business.
Crypto casino Stake reopens withdrawals just 5 hours after $41M hack

Stake Reopens Deposits and Withdrawals After $41.3 Million Exploit

Stake, a crypto betting platform, resumed services for users only five hours after the platform was hacked to the tune of $41.3 million, blockchain security firms estimate. At 9:28pm UTC time on Sept. 4, all services were back up and running, a few hours after Stake confirmed that several unauthorized transactions were made on its ETH/ BTC hot wallets.

The betting site clarified that its Bitcoin (BTC), Litecoin (LTC), and XRP wallets were not impacted, and that user funds remain safe. According to blockchain security firm Beosin, the total loss amounted to $41.35 million, with $15.7 million on Ethereum (ETH), $7.8 million on Polygon (MATIC), and another $17.8 million from the Binance Smart Chain.

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According to on-chain analyst ZachXBT, an earlier estimate of $15.7 million by blockchain security firm PeckShield didn’t take into account the $25.6 million allegedly lost on BSC and Polygon.

At 12:48 pm UTC, the first transaction of $3.9 million worth of Tether (USDT) was made from Stake to the attacker’s account, followed by two transactions removing over 6,000 Ether, worth approximately $9.8 million. The attacker then continued to take out tokens, including around $1 million in USD Coin (USDC), $900,000 of Dai (DAI) and 333 Stake Classic (STAKE) ($75), which is believed to make up the initial $15.7 million on Ethereum.

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