World’s Largest Crypto Casino Stake Hacked For $41.3m
September 4, (THEWILL) – Stake.com, the world’s largest cryptocurrency casino and sports betting platform, has reportedly fallen victim to a cyber-attack, resulting in a big loss of $41.3 million.
First flagged by analyst Cyvers, the incident involves a reported private key leak that enabled the withdrawal of $15.7 million in ether (ETH) from Stake’s Ethereum wallet.
Crypto Sleuth ZachXBT shared the figure, adding that $15.7 million in ETH was taken along with $25.6 million stolen from Stake’s Polygon and Binance Smart Chain wallets. The funds have been converted to ETH and sent to various external wallets.
According to the Financial Times, the Australian crypto casino and sportsbook generated $2.6 billion in 2022 revenue. It still holds around $2.4 million in its compromised Ethereum wallet based on Etherscan data. Withdrawals appear to have been paused, matching user reports on Twitter.
While details remain sketchy, the incident has raised serious questions about the security of online crypto platforms, even as it casts a shadow over the burgeoning crypto gambling industry.
