Australian crypto gambling platform Stake hacked, and over $40 Million stolen
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The Australian-based cryptocurrency gambling platform Stake is reporting a loss of over $40 million as a result of a cyberattack. On September 4, 2023, Stake encountered a series of suspicious transactions, initially resulting in a loss of $16 million from its blockchain wallets.
Further investigations conducted by blockchain experts from Cyvers Alerts and ZachXBT unveiled a more alarming scenario: an additional series of transactions led to the depletion of over $25 million in BSC and Polygon crypto tokens from Stake's reserves.
In response to these unauthorized transactions, Stake has suspended all deposits and withdrawals, likely to prevent any further unauthorized activities and facilitate the tracking of the wallets containing the stolen funds.
No details are available about the nature of the exploited vulnerability nor number of individuals affected. Users are also unable to get access to their funds in the Stake platform. There is even more concern that the Stake block of withdrawals will cascade to other platforms as well, leaving people without their money (which they did gamble in the first place)
