Stake Suffers $38 million Hack
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Stake Suffers $38 million Hack
Merkle Science
On the 4th of September 2023, the popular crypto gambling platform Stake suffered a major security breach due to private key leak resulting in the theft of approximately US $38 million. The preliminary investigation confirms that unauthorized withdrawals were detected from Stake's hot wallets on the Ethereum, Polygon, and Binance Smart Chain networks.
The stolen funds included Ethereum, stablecoins, and native tokens across the three chains, collectively valued around $138 million at the time of transfer. The assets were rapidly moved through various associated addresses and decentralized exchanges in an attempt to obscure the trail.
Stake confirmed the exploit, stating that the hacker managed to drain assets from their hot wallets and that they were investigating the incident. The stolen crypto funds were rapidly shifted between accounts and decentralized exchanges in an apparent effort to launder and cash out the haul.
It needs to be noted that hot …
Merkle Science
On the 4th of September 2023, the popular crypto gambling platform Stake suffered a major security breach due to private key leak resulting in the theft of approximately US $38 million. The preliminary investigation confirms that unauthorized withdrawals were detected from Stake's hot wallets on the Ethereum, Polygon, and Binance Smart Chain networks.
The stolen funds included Ethereum, stablecoins, and native tokens across the three chains, collectively valued around $138 million at the time of transfer. The assets were rapidly moved through various associated addresses and decentralized exchanges in an attempt to obscure the trail.
Stake confirmed the exploit, stating that the hacker managed to drain assets from their hot wallets and that they were investigating the incident. The stolen crypto funds were rapidly shifted between accounts and decentralized exchanges in an apparent effort to launder and cash out the haul.
It needs to be noted that hot …