Stake.com, a renowned crypto gambling giant, finds itself grappling with a significant setback as it endures a cyberattack resulting in a staggering loss of $41.3 million. This unfortunate incident has prompted the platform to take swift action, suspending all deposit and withdrawal services, leaving numerous users in limbo, unable to access their assets.
Earlier today, Cyvers, a cybersecurity firm specializing in cryptocurrencies, raised the alarm regarding a series of suspicious transactions originating from Stake.com's hot wallet.
The lion's share of the pilfered funds appears to have been siphoned from Stake.com's hot wallet on the Binance Smart Chain, amounting to a substantial $17.8 million. The remaining portion of this digital heist saw $15.7 million being withdrawn via Ethereum, with the final sum of $7.8 million vanishing into the abyss of the Polygon network. These unsettling details were uncovered by Beosin, a prominent web3 security agency.
Stake.com, renowned for its digital casino offerings and crypto-powered sports betting, had previously garnered attention due to its high-profile collaborations with none other than the iconic rapper Drake and the Formula One outfit, Alfa Romeo.
While the precise extent of Stake.com's financial damage remains undisclosed, data from a Dune dashboard paints a picture of a platform that had seen over $2.1 billion in customer deposits accumulate since August 2022.
Ed Craven, one of Stake.com's co-founders, had revealed in the past that the platform played a significant role in the cryptocurrency ecosystem. It was responsible for facilitating nearly 6% of all Bitcoin transactions, 12% of Dogecoin transactions, and 15% of Litecoin transactions, showcasing its substantial presence within the crypto landscape.
As of the current moment, Stake.com has chosen to remain tight-lipped regarding the specifics of the breach and the identities of the suspected culprits behind this audacious hack. However, in an attempt to reassure its users, the company took to Twitter to assert that customer funds remain secure despite this unfortunate incident.
Posted Using LeoFinance Alpha