Crypto Casino Stake Restores Withdrawals Hours After $41M Hack


Crypto betting platform Stake has reportedly reopened deposits and withdrawals and resumed services for users only five hours after the platform was hacked to the tune of $41.3 million, according to blockchain security firms. The betting site said its Bitcoin (BTC), Litecoin (LTC), and XRP wallets were not impacted, and confirmed that user funds remain safe.

The first transaction occurred at 12:48 pm UTC, transferring approximately $3.9 million worth of stablecoin Tether (USDT) from Stake to the attacker’s account. The next two transactions removed over 6,000 Ether, worth approximately $9.8 million at the current prices. The attacker continued to remove tokens over the next few minutes, including about $1 million in USD Coin (USDC), $900,000 worth of Dai (DAI) and 333 Stake Classic (STAKE) ($75) which is understood to have made up the first $15.7 million on Ethereum.

Analysis by blockchain security firm Beosin calculated the total loss to be $41.35 million, which included $15.7 million on Ethereum (ETH), $7.8 million on Polygon (MATIC) and another $17.8 million from the Binance Smart Chain. These figures were later confirmed by on-chain analyst ZachXBT.

Stake confirmed that all services resumed at 9:28pm UTC time on Sept. 4 — a few hours after the platform confirmed that several unauthorized transactions were made on Stake’s ETH/BTC hot wallets. The betting site apologised for any inconvenience caused.

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