Crypto casino suffers major security breach

Leading crypto casino Stake.com has suffered a security breach that allegedly led to a $41.3 million loss. The platform put a temporary hold on deposits and withdrawals after the breach was first detected by security firm Cyvers.

Cyvers first alerted to the breach after detecting abnormal outbound transactions from Stake.com’s Ethereum wallets to unidentified Ethereum addresses through its AI-powered system.

Most of the stolen funds were taken from Stake.com’s hot wallet on the Binance Smart Chain, with $17.8 million leaving that wallet, while on Ethereum a total of $15.7 million were moved. On Polygon, the firm’s wallet saw $7.8 million leave its wallets.

The security breach led to the theft of various tokens, including stablecoins that were apparently later converted into Ethereum and distributed to different externally owned accounts.

Stake.com is a massive crypto casino that made headlines in the past for associations with celebrities including Drake and the Formula One team Alfa Romeo. Its total value locked is on a Dune analytics dashboard estimated to be above $2 billion.

Originally published at Arabian Post.