Crypto Casino Stake to Be Targeted in $40M Exploit
Stake, a cryptocurrency casino, appears to be the target of an exploit. On-chain analyst Cyvers reports that $16,000,000 has been drained from the Ethereum network due to a “private key leak”.
ZachXBT, a blockchain detective who has been investigating cryptocurrency for years, corroborated Cyvers’ claim. He said that Ethereum lost $15.8 million. Another $25.6 million was lost between Polygon and Binance Smart Chain.
In the first quarter of this year, hackers and exploits lost more than $3.7 billion worth of cryptocurrencies.
Cyvers stated that the stolen funds were converted into Ether (ETH) before being transferred to multiple third-party-owned wallets.
Etherscan shows that the wallet still contains $340,000 in ETH and $2.1 million in altcoins. The wallet appears to be paused for withdrawals, multiple Twitter users have claimed.
Stake, an Australian sportsbook and casino, allows its users to gamble and deposit using cryptocurrency. According to a Financial Times article, the company had sales of $2.6 billion in 2022.
Stake did not immediately respond to AskFX’s request for comment.
