Stake Recovers Swiftly After $41.3 Million Hack, Resumes Services Safely
Summary:
Crypto betting platform Stake quickly resumes services after a $41.3 million hack. Unauthorized transactions were made on the platform's hot wallets, affecting Ethereum, Polygon, and the Binance Smart Chain. User funds remain safe, as Stake investigates the cause of the exploit. The total loss is estimated at $41.35 million.
Crypto betting platform Stake has swiftly recovered from a major hack, resuming its services and restoring deposits and withdrawals only five hours after the incident. According to blockchain security firms, the platform suffered an estimated loss of $41.3 million. Stake has confirmed that unauthorized transactions were made on its ETH/BTC hot wallets, but user funds remain secure. The exploit affected Ethereum, Polygon, and the Binance Smart Chain. Beosin calculated the total loss to be $41.35 million, surpassing the earlier estimate of $15.7 million. The attack involved the transfer of various cryptocurrencies, including Tether, Ether, USD Coin, and Dai. Stake has not disclosed the cause of the exploit.
Published At
9/4/2023 10:46:08 PM
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