Crypto gambling site Stake suffered a security breach, and hackers stole $41M worth of crypto assets including Tether and Ether.
Researchers reported abnormally large withdrawals made from the crypto gambling site Stake to an account with no previous activity, which indicates that threat actors have hacked the platform and stolen crypto assets.
Stake.com offers traditional casino games (such as slots, blackjack and roulette) and sports betting. It offers video streams with live dealers. Users on Stake.com does not deal with traditional currencies, instead they deposit and withdraw cryptocurrencies to and from their betting account. Account balances can be withdrawn in the equivalent value of cryptocurrency and then deposited back into the user’s personal cryptocurrency wallet.
The crypto gambling site confirmed the attack on Twitter. The withdrawals were made on September 4, and the account used by the threat actors was called “Stake.com Hacker” by Etherscan.
The firm claimed that BTC, LTC, XRP, EOS, TRX and “all other wallets” were untouched by the hackers.
Smart contract audit service Beosin reported that the attackers also drained funds using other chains, including 17.8 M from BNB Smart Chain (BSC) and 7.8M from Polygon.
The analysis of the Blockchain data reveals that threat actors performed very large withdrawals from Stake.com contracts into the alleged attacker’s account.
Once the attackers drained the funds, they distributed them to multiple accounts.
Ed Craven, Stake co-founder, attempted to reassure their clients explaining that only a small portion of its crypto reserves is maintained in hot wallets.
On the same day, Stake.com announced that the issue had been remediated.
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