Hackers Target Crypto Gambling Platform: Stake.com Lost $41 Million

Crypto gambling site Stake.com has fallen to be the latest victim of cyber criminals as about $41 million in cryptocurrencies were siphoned off from the platform in transactions labeled as “suspicious outflows”

Stake confirmed unauthorized transactions from its Ethereum and Binance Smart Chain hot wallets. However, it did not detail any of these suspicious activities.

“Three hours ago, unauthorised tx’s were made from Stake’s ETH/BSC hot wallets,” Stake tweeted.

Three hours ago, unauthorised tx’s were made from Stake’s ETH/BSC hot wallets.

We are investigating and will get the wallets up as soon as they’re completely re-secured.

User funds are safe.

BTC, LTC, XRP, EOS, TRX + all other wallets remain fully operational.

— Stake.com (@Stake) September 4, 2023

About $41 Million in Crypto Was Drained

According to the on-chain analyst Cyvers, $16 million in cryptocurrencies were drained from the Ethereum
Ethereum

Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language,

Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language,
Read this Term network following a “private key
Private Key

Private keys or secret keys are defined as a string of characters used with an algorithm to both encrypt and decrypt code. The primary application of this alphanumeric key is designed to send or access cryptocurrency securely.As its name suggests, secret keys are…