Unveiling the Web3 ‘Stake’ Hack Across Multiple Chains
Contents
MistTrack Investigative Series: Unveiling the Web3 ‘Stake’ Hack Across Multiple Chains
Introduction
Welcome to another episode of our MistTrack investigative series, where we explore the complexities and intricacies of stolen funds in the web3 ecosystem. The web3 community was shaken recently when the gambling platform Stake was hacked, resulting in the loss of approximately $40 million in assets. The funds were siphoned off not just from Ethereum, but also from Polygon and Binance Smart Chain networks. The stolen assets were then redistributed to numerous addresses on each network. In this article, we’ll walk you through how we used our MistTrack dashboard to trace the stolen funds across multiple blockchain networks.
Pattern Recognition on Ethereum
Interestingly, the pattern across these Ethereum addresses was consistent; the addresses received funds primarily in DAI tokens. It appears the hackers needed Ethereum (ETH) for gas fees. They sent 1 ETH to the addresses before converting DAI to Ethereum using …
Introduction
Welcome to another episode of our MistTrack investigative series, where we explore the complexities and intricacies of stolen funds in the web3 ecosystem. The web3 community was shaken recently when the gambling platform Stake was hacked, resulting in the loss of approximately $40 million in assets. The funds were siphoned off not just from Ethereum, but also from Polygon and Binance Smart Chain networks. The stolen assets were then redistributed to numerous addresses on each network. In this article, we’ll walk you through how we used our MistTrack dashboard to trace the stolen funds across multiple blockchain networks.
Pattern Recognition on Ethereum
Interestingly, the pattern across these Ethereum addresses was consistent; the addresses received funds primarily in DAI tokens. It appears the hackers needed Ethereum (ETH) for gas fees. They sent 1 ETH to the addresses before converting DAI to Ethereum using …