Unusual withdrawals from Stake included $9.8 million in ether and $3.9 million in tether, both of which were sent to an account with no prior activity. On September 4, $16 million was withdrawn from the cryptocurrency gaming site Stake in what the security firm Cyvers Alerts is referring to as “suspicious transactions.” Etherscan has tagged the withdrawing account “Stake.com Hacker,” indicating that the funds may have been withdrawn as a result of a stolen private key.
Blockchain information reveals significantly substantial withdrawals from Stake.com contracts into the account of the suspected attacker. Approximately $3.9 million worth of Tether Stablecoin were transferred in the initial transaction, which happened at 12:48 PM. a transfer from Stake to the attacker’s account
The following two transactions withdrew 6,001 Ether, which at the present pricing is worth $9.8 million. Over the following several minutes, the attacker kept taking tokens, including almost $1 million USD in Coin. Dai Stablecoin (DAI) valued $900,000 and 333 Stake Classic (STAKE) ($75.48). According to Cyvers, $16 million worth of cryptocurrency was lost in total.
The accused attacker allegedly syphoned off the money and split it among other accounts. Stake hasn’t released a statement about the shady withdrawals as of the time of publication.
A crypto gambling system called Stake allows sports betting on basketball, tennis, volleyball, and other sports, as well as dice games, blackjack, lingo, and other casino games.
The possibility of hackers targeting cryptocurrency gaming sites in 2023 is not new. Payments company Alphapo saw $31 million in erroneous withdrawals on July 23. Several cryptocurrency gambling websites, including Hypedrop, Bovada, and Ignition, used Alphapo as a service.