$16M in Suspicious Withdrawals Detected on Crypto Gambling Site Stake


Security agency Cyvers Alerts flagged suspicious transactions involving withdrawals from cryptocurrency gambling platform Stake totalling $16 million on September 4. It is believed that the money was siphoned from the platform due to a stolen private key, according to Etherscan’s designation of the withdrawing account as a “Stake.com Hacker”.

The cryptocurrencies involved in the withdrawals included USDT, ETH, DAI, USDC and STAKE. Blockchain evidence reveals massive withdrawals from Stake.com contracts into the account of the suspected attacker. There were three transactions in total, including $3.9 million worth of Tether (USDT), approximately $9.8 million in Ethereum (ETH), $900,000 in Dai (DAI), 333 Stake Classic (STAKE) worth $75.48, and roughly $1 million in USD Coin (USDC).

It appears that the hacker split the funds into several accounts. Alphapo, a provider of payment services to numerous crypto-gambling websites, had reported similar irregular withdrawals on July 23, involving $31 million.

Stake has not yet issued a statement regarding the suspicious withdrawals at the time of writing. The platform offers Dice games, Blackjack, Lingo, and other casino games, as well as sports betting for basketball, tennis, volleyball, and other sports.

Cryptocurrency gaming websites have been targeted by hackers before in 2023. As such, it is important to remain vigilant and take necessary steps to ensure the security of funds.

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