1. BITBILIHome
  2. Article

World’s largest crypto casino, Stake.com faces security breach: Over $15 million in suspicious outflows detected

• 217 views

TL;DR Breakdown

  • Crypto-based betting platform Stake has been targeted in a security exploit, with over $15 million in suspicious outflows detected, consisting of 6,000 ether and $5.9 million in stablecoins.
  • Stake has paused both deposits and withdrawals in the wake of the incident but has yet to issue an official statement.

Description

In a startling revelation that has sent shockwaves through the cryptocurrency community, the crypto-based betting platform Stake has reportedly been targeted in a security exploit involving suspicious outflows of over $15 million.  On-chain analysts have detected multiple irregular transactions from the platform, raising concerns about a potential security vulnerability affecting Stake’s wallet.  The anatomy of … Read more

In a startling revelation that has sent shockwaves through the cryptocurrency community, the crypto-based betting platform Stake has reportedly been targeted in a security exploit involving suspicious outflows of over $15 million. 

On-chain analysts have detected multiple irregular transactions from the platform, raising concerns about a potential security vulnerability affecting Stake’s wallet. 

The anatomy of the exploit: What was lost?

According to on-chain analyst Cyvers, approximately $15.7 million was transferred from the platform. The suspicious outflows consisted of 6,000 ether, valued at around $9.8 million, and $5.9 million in stablecoins. 

Blockchain analyst ZachXBT confirmed Cyvers’ claim that about $15.7 million was lost on Ethereum, and an additional $25.6 million was drained across Polygon and the Binance Smart Chain.

Etherscan data also showed that the targeted Stake wallet still holds $340,000 worth of ETH and $2.1 million in various altcoins. While Stake has not yet issued an official statement, the platform has reportedly paused deposits and withdrawals, leaving users in a state of uncertainty.

Stake.com was founded in 2017 and quickly became the largest online casino. The platform mainly focuses on sports betting and casino games such as blackjack, roulette, and slots. Stake stands out by exclusively using cryptocurrencies for transactions rather than fiat currencies. It supports 18 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Tether (USDT), USD Coin (USDC), and ApeCoin (APE), among others.

Stake offers various bonuses and promotions to entice and retain users. These may include deposit bonuses, free bets, and loyalty programs.

Meanwhile, the crypto world has witnessed lots of hacks and exploits so far in 2023, with losses amounting to about $1 billion. It is essential to know that August alone witnessed $45.8 million in losses from crypto-related criminal activities, Cryptopolitan reported.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:World’s largest crypto casino, Stake.com faces security breach: Over $15 million in suspicious outflows detected

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月5日 00:38
Next 2023年9月5日 02:44

Related articles

  • Magnate Finance executes $6.4 million exit scam on Base Network: Details

    TL;DR Breakdown Magnate Finance allegedly executed an exit scam on the Base network, losing $6.4 million. The project’s deployer address was linked to previous scams, including a $4.8 million exit scam. Description Magnate Finance, a lending project operating on the Ethereum Layer 2 network Base, has executed an exit scam, making off with an estimated $6.4 million. The event, described as a rug pull by security firm PeckShield, has sent shockwaves through the cryptocurrency community. Magnate Finance exit scam linked to previous fraudulent activities The exit scam … Read more Magnate Finance, a lending project operating on the Ethereum Layer 2 network Base, has executed an exit scam, making off with an estimated $6.4 million. The event, described as a rug pull by security firm PeckShield, has sent shockwaves through the cryptocurrency community. 🚨🚨🚨The @MagnateFi just performed a rugpull (w/ ~$6.5m loss) by directly manipulating the price oracle. Here is the related hack tx: https://t.co/vjFFSNY27W https://t.co/APJjRZAsCK pic.twitter.com/CHhxGqul83 — PeckShield Inc. (@peckshield) August 25, 2023 Magnate Finance exit scam linked to previous fraudulent activities The exit scam was carried out by…

    Article 2023年8月26日

  • Argentina rolls out 2,000 Peso Banknote worth $4 – Inflation at its worst

    TL;DR Breakdown Argentina has rolled out a 2,000 Peso banknote amid a 109% inflation rate. A survey by the central bank predicts that by the end of 2023, inflation will reach nearly 130%. The new 2,000-peso banknote has a design commemorating the development of science and medicine in Argentina. Argentina’s economy is between a hard place and a rock. According to reports, Argentina introduced its largest-denomination banknote on Monday.  According to the available data, inflation is running at more than 100 percent per year, forcing the populace to carry ever-increasing amounts of cash to pay for daily expenses. Argentina registers the worst inflation case in history Currently, the inflation rate in the South American nation is 109 percent. This is one of the world’s highest points. A survey conducted by a central bank predicts that by the end of this year, inflation will reach nearly 130%. The interest rates have been dramatically increased to 97%. In April, consumer prices increased at the fastest rate since 1991, when Argentina emerged from hyperinflation. The economy is anticipated to enter a recession before…

    Article 2023年5月26日

  • Uniswap price analysis: UNI retests $5.14 resistance; is a break above possible?

    TL;DR Breakdown The Uniswap price analysis is bullish. The next resistance for UNI/USD is present at $5.20. Strong support is found at $5.04. The Uniswap price analysis is bullish for today as the coin price function continues an uptrend. The recent uptrend started on May 16, 2023, when UNI got support at $4.91. The coin was on the decline after peaking at $6.33 on April 18, 2023, and the downtrend lasted till May 26th, losing significant value over that time. But today, the bullish momentum has started again, as the price is currently trading at $5.15, retesting the resistance present at $5.14. A further increase in UNI/USD value is also to be expected in the upcoming hours as well if buyers participate. UNI/USD 1-day price chart: Cryptocurrency value bounces back to $5.15 high The 1-day Uniswap price analysis shows bullish price action for the day as the price has re-challenged the $5.14 resistance. A constant shift in price trends has been observed since yesterday, but today the bulls secured the lead. The UNI/USD price has increased up to the $5.15…

    Article 2023年6月2日

  • KuCoin thrives amidst volatile crypto market, surpassing 29 million users

    TL;DR Breakdown KuCoin experiences impressive 26% year-over-year user base growth, serving over 29 million registered users. Latin America drives significant expansion for KuCoin, with growth also seen in Europe, the Middle East, Africa, and Asia. KuCoin’s trading volume surpasses $1 trillion, reflecting strong demand and widespread interest in cryptocurrencies. Description KuCoin, a prominent cryptocurrency exchange, continues to thrive despite challenging market conditions, demonstrating an exceptional first-half performance in 2023. Despite the cryptocurrency market’s volatility, KuCoin has achieved significant growth, boasting a 26% year-over-year increase in its user base. The exchange now proudly serves over 29 million registered users, with the Latin American (LATAM) region driving … Read more KuCoin, a prominent cryptocurrency exchange, continues to thrive despite challenging market conditions, demonstrating an exceptional first-half performance in 2023. Despite the cryptocurrency market’s volatility, KuCoin has achieved significant growth, boasting a 26% year-over-year increase in its user base. The exchange now proudly serves over 29 million registered users, with the Latin American (LATAM) region driving most of this expansion. Europe, the Middle East, Africa, and Asia have also experienced substantial growth compared…

    Article 2023年7月14日

  • China is on a mission to spread deflation worldwide

    TL;DR Breakdown China is experiencing a broad deflationary trend across various sectors. Despite rebounds, food products, home appliances, and transport prices continue to drop. China’s falling export prices raise concerns for global economies. Supply chain complexities, from production to retail, affect final consumer prices. Description The very mention of China’s growing influence is enough to get the pulse racing. But here’s the kicker: China isn’t just spreading its influence through investments or technological innovation. No, its modus operandi is far subtler. Now, the world is buzzing with the suspicion that China might be on the brink of triggering a global … Read more The very mention of China’s growing influence is enough to get the pulse racing. But here’s the kicker: China isn’t just spreading its influence through investments or technological innovation. No, its modus operandi is far subtler. Now, the world is buzzing with the suspicion that China might be on the brink of triggering a global deflation wave. Diving into China’s Deflationary Tendencies China is currently experiencing an unusual trend, with negative inflation rates splashed across various price…

    Article 2023年9月21日
TOP