Stake.com suffers massive over $41m crypto hack

Stake.com suffers massive over $41m crypto hack

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Stake.com suffers massive over $41m crypto hack

Stake.com has recently had a large sum of cryptocurrencies stolen from its wallets.

The hack reportedly occurred in a few stages, with the operator’s accounts on the Ethereum blockchain being compromised first. The attacker, conveniently named “Stake.com Hacker” on the blockchain exploring platform Etherscan, transferred 3.9 million dollars worth of Tether to their wallet, followed by almost 10 million dollars worth of Ethereum.

This chain of events continued, expanding across two other cryptocurrency networks, leading to a total loss of more than 41 million dollars for the gambling firm. The largest losses occurred on Stake’s Binance blockchain accounts at just under 18 million dollars. Following the hack, the attacker distributed the majority of their assets across a multitude of wallets.

Stake confirmed that it was aware of the hack on its social media platforms, stating that certain unauthorized transfers were made from its accounts. The operator also mentioned that the funds of its users are safe, while the company’s co-founder Ed Craven stated in a tweet that the losses in this recent attack originate only from the firm’s network-connected wallets, where Stake only stores a small portion of its total crypto assets.

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