Crypto gambling site “Stake” saw a suspicious outflow of $16M

A Crypto security firm reported hack or suspicious crypto activities on the Stake platform. 

Stake(dot)com is an Australian-Curaçaoan online casino. It is operated by Medium Rare NV, a company incorporated in Curaçao where it holds an online casino licence. This platform also has offices in Serbia, Australia, and Cyprus with a decent number of employees globally. This platform also supports crypto payment for the customers to do gambling activities on the platform.

On 4 Sep 2023, A crypto security platform Cyvers reported that the Stake platform saw an outflow of $16 million in funds from the platform.

According to the security crypto firm’s AI tool, this amount of funds was suspicious, and probably someone hacked & stole the funds. 

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As per analysis, the unknown hacker stole $16 million worth of Ethereum, USDC, USDT, and DAI. 

ALERTOur AI-powered system has detected multiple suspicious transactions with @Stake.https://t.co/0ZoMITOyF5 address received about $16M in $ETH $USDC $USDT and $DAI

All the stable coins are converted to $ETH and distributed to different EOAs.

FYI: @tayvano_ @zachxbt pic.twitter.com/CSGwRHEiVm

— Cyvers Alerts (@CyversAlerts) September 4, 2023

In response to this suspicious transaction, the Stake team responded and confirmed that it was a suspicious & unauthorized transaction. The Stake team is investigating the issue as well as looking forward to catching the main culprit who is responsible behind this whole incident. The stake team confirmed that customers’ funds are safe.

Three hours ago, unauthorised tx’s were made from Stake’s ETH/BSC hot wallets.

We are investigating and will get the wallets up as soon as they’re completely re-secured.

User funds are safe.

BTC, LTC, XRP, EOS, TRX + all other wallets remain fully operational.

— Stake.com (@Stake) September 4, 2023

On the same day Stake suspended withdrawal for the customers, to keep any kind of other similar incidents away. 

On 5 Sep 2023, The Stake team announced that deposit & withdrawal services had resumed and also apologised for the issue.

All services have resumed! Deposits & withdrawals are processing instantly for all currencies. We apologise for any inconvenience.

— Stake.com (@Stake) September 4, 2023

Some reports claimed that hackers are targeting crypto gambling websites to make money in 2023. Earlier in July of this year, crypto payment processors for gambling websites Alphapo saw an outflow of nearly $61 million worth of crypto assets. 

Hack update: An additional $37M stolen on TRON & BTC from this hack has been located.

This now brings the total amount stolen to $60M.

This hack appears to likely have been done by Lazarus as they create a very distinct fingerprint on-chain. pic.twitter.com/ACGSXiDwW3

— ZachXBT (@zachxbt) July 25, 2023

Read also: Multi token surges 100% within 12 hours, Here is why?

Crypto gambling site “Stake” saw a suspicious outflow of $16M

 

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