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Cybersecurity Breach: Stake.com Hit with $16 Million in Suspicious Withdrawals

Algoine News
Summary:
Crypto gambling site Stake.com experiences $16 million in suspicious withdrawals, labelled as "Stake.com Hacker" by Etherscan. The attacker converted stable coins into Ethereum (ETH) and distributed them to various accounts. Stake.com has not yet issued a statement regarding the incident. This follows a series of hacking incidents targeting crypto gambling platforms in 2023. Further details to come.
Blockchain gambling platform Stake.com recently encountered a notable incident involving suspicious transactions. According to cybersecurity platform Cyvers Alerts, a total of $16 million was withdrawn from the platform on September 4. The account responsible for the withdrawals has been identified as "Stake.com Hacker" by Etherscan, hinting that the funds may have been obtained through a stolen private key. The blockchain data reveals significant transfers from Stake.com contracts to the hacker's account. The first transfer involved around $3.9 million worth of Tether (USDT) stablecoin, followed by two transactions involving 6,001 Ether (ETH) valued at roughly $9.8 million. The attacker proceeded to withdraw additional tokens, including approximately $1 million in USD Coin (USDC), $900,000 worth of Dai (DAI) stablecoin, and 333 Stake Classic (STAKE) tokens valued at $75.48. Cyvers estimated the overall value of the drained cryptocurrencies at $16 million. Following the alleged theft, the attacker distributed the funds to multiple accounts. As of now, Stake.com has not released any formal statement regarding the matter. This occurrence is consistent with a trend of crypto gambling sites being targeted by hackers in 2023. Earlier this year, payment provider Alphapo faced suspicious withdrawals amounting to $31 million. Alphapo served as a provider for several crypto gambling platforms, including Hypedrop, Bovada, and Ignition. This is an ongoing story, and more details will be included as they become available.

Published At

9/4/2023 4:34:58 PM

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