Stake.com Hacked for 40 Million Bucks in Crypto

Stake.com Hacked for 40 Million Bucks

Stake.com has been hit with a multi-million dollar hack. The online casino has been the victim of a $40 Million crypto hack, according to Cyvers – a Web3 security firm.

Cyvers AI-powered cybersecurity system detected large transactions taking place in quick succession.

Over $16 million was transferred to the hacker’s crypto wallet in $USDT, $ETH, $USDC, $USDT, and $DAI.

2 hours later, a further $25 million was transferred to the hacker’s wallet from Stake.

Stake.com has not officially released a statement as of writing, but a leaked internal message from Stake shows they are hoping it’s an ethical hacker.

Ethical hackers will gain access to companies that highlight flaws in their cybersecurity and receive a reward in return. But, it’s not yet clear if this is to be the case.

Bitcoincasinos.com has learned Cyvers contacted Peckshield, a security and data analytics firm, to investigate the alleged hack.

Stake only had $2 million left in its crypto wallet, according to the CEO of Ethereum L1 Blockchain, Energi.

Stake.com launched in 2016 and has since grown to be a well-known brand. Bettors can bet on sports, casino games, slots, and live dealer games,

How Stake.com can recover from this remains to be seen. Losing such a swathe of cash is likely to be a crippling blow to one of the world’s biggest online betting platforms.

Whether it will have an overall effect on crypto gambling sites remains to be seen.

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