In an unprecedented incident, Stake, one of the world’s largest cryptocurrencies, suffered a multi-million dollar theft on Monday, resulting in an estimated $41,000,000 loss to the cryptocurrency Ethereum (ETH) ). PeckShield, a company specializing in digital security, was the first to issue a warning via X (formerly Twitter) about suspicious activity detected on the Stake blockchain.
According to a report from Cyvers, another company that specializes in virtual security, the attack began in the morning when an AI-based security system discovered an Ethereum (ETH) transaction worth $16 million from a Stake account to another. at this point.
The casino did not wait long to issue a warning about the unusual situation, but lukewarmly acted and protected the assets of customers of this gaming room that moved virtual money.
An unauthorized transfer was made from the Stake ETH/BSC hot wallet three hours ago.
We are investigating and will release these wallets once they are fully restored. Safety.
User funds are safe.
BTC, LTC, XRP, EOS, TRX + all other wallets remain fully functional.
— Stake.com (@Stake) September 4, 2023
An unauthorized transfer was made to Stake’s active ETH/BSC wallet three hours ago. We are investigating and will recover the wallets once they are fully secure. User funds are safe. BTC, LTC, 5,997,996 ETH. Based on the current price of the cryptocurrency ($1,620), the value subtracted by these two operations is estimated to be approximately $9,596,800.
The site reports that its wallets of Bitcoin (BTC), Litecoin (LTC) and XRP worth €0.47 were not affected, but has not disclosed the cause of the breach or that it was stolen amount. However, Stake confirmed that users’ funds remain safe.
Analysis from blockchain security firm Beosin estimated total losses at $41.35 billion, with Ethereum (ETH) losing $15.7 million. ), Polygon (MATIC) has 7.8 million, and Binance Smart Chain has 17.8 million.
On the same Monday, five hours after the hack, the gambling platform resumed deposits and withdrawals and resumed operational services. user. Stake confirmed that all services were restored at 21:28 UTC.
Meanwhile, investigations continue to track down the criminals and the whereabouts of the stolen funds.
What is Staking?
Stake is an online cryptocurrency casino licensed and regulated under the laws of the Dutch Caribbean island and tax haven of Curaçao -cw- and offers a wide range of games and sports betting. It was founded in 2017 by Bijan Tehrani and Ed Craven (also the founder of casino games provider Easygo) at the latter’s offices in Melbourne, Australia’s business district.
The casino is also famous through the celebrities he sponsors. Among themSergio Kun Agüero; Drake, a Canadian hip-hop star; José Aldo and Israel Adeyansa ) mixed martial artists and even the Alfa Romeo Formula 1 team are on the list.