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Home » Blog » stake hacked for 41m in crypto gambling online attack

Stake Hacked For $41m In Crypto Gambling Online Attack

Andy Newton
Andy Newton
Betting Expert
Updated: 5 September 2023
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission - at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
hacked

One of the largest crypto casinos in the world – Stake – has reportedly been hacked to the tune of $41m – putting the creditability and safety of online bitcoin and crypto casinos at risk.

The Australian-based crypto gambling site, who are also the shirt sponsors of Premier League football side Everton, was hacked on Monday September 4th 2023, with just over $41m going astray through various blockchain wallets.

Blockchain experts – Cyvers Alerts and ZachXBT are said to have seen sustantial monies moves between wallets – including over $25 in BSC and Polygon tokens. The withdrawing account was labelled “Stake.com Hacker” and the funds could have been taken using a stolen private key.

============================================

stake

Stake was said to have suspended all deposits and withdrawals shortly after the news broke on Monday Sept 4th, which was clearly done to prevent any more transactions taking place and to investigate the hacking.

Despite the hack, Stake has also issued a statement to say that all user funds are secure and safe.

The online casino broke the news via social media – “We are investigating and will get the wallets up as soon as they’re completely re-secured.” The team also claimed that “user funds are safe.” Stake co-founder Ed Craven clarified that “Stake keeps a small portion of its crypto reserves in hot wallets at any given moment for these very reasons,”

Stake is a crypto-based betting platform, that allows its users to place bets on casino games and sports betting.

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Andy Newton
Andy Newton
Betting Expert

Sports betting journalist that enjoys using key stats and trends to hunt for winners - mainly on horse racing and football, plus highlight new betting angles for readers. Andy Newton has many top industry contacts, including with some of the leading horse racing yards in England and Scotland through his long association with FromTheStables and TrainersQuotes. Has written for GeeGeez and BetBright too, plus was the former editor of odds comparison site Easyodds. Has also featured on betting podcasts for the betting exchange MatchBook and has appeared in the Weatherbys Cheltenham Festival Guide. Andy's ghost written for former jockey Richard Dunwoody too and has had a monthly column in the Racing Ahead horse racing magazine for over 10 years. Now a regular on SportsLens, giving his views, trends and tips on horse racing (US & UK) and football (soccer), plus specializes in long form SEO sports betting content for news, tips and all things betting on any sport. If there's a trend to be explored and it's a sport, Andy will find a stats-based betting angle.

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