Another scandal in the crypto world! Just five hours after experiencing an astounding $41.3 million hack, the cryptocurrency casino Stake has miraculously restarted payments and withdrawals. Blockchain security companies claim this.
On September 4, at 9:28 p.m. UTC, the company made an official announcement on the restart of all services. The unauthorized transactions in Stake's ETH/BSC hot wallets were acknowledged, and it happened in a matter of hours.
The company conveyed its apology for any inconvenience, posting an official statement on X.
According to Stake, the compromise had no impact on its wallets for Bitcoin, Litecoin, and XRP. With that, the exact cause of the exploit and the total stolen amount have not been disclosed. But the business has assured its customers that their money is safe.
Beosin, a blockchain security business, evaluated the full loss as $41.35 million, of which $15.7 million came from Ethereum, $17.8 million from the BNB Smart Chain, and $7.8 million from Polygon. This amount is much higher than the $15.7 million estimate made earlier by PeckShield, a blockchain security company that is a competitor, as it did not take into consideration the $25.6 million reportedly lost on BSC and Polygon.
The original hack happened when a stablecoin Tether was moved from Stake to the attacker's account for almost $3.9 million. Subsequent transactions stole about 6,000 Ether, or more than $9.8 million, at the prevailing market value. The attacker kept taking tokens out of the system throughout the course of the next several minutes, losing a total of $15.7 million within the Ethereum network, as well as approximately $1 million in USD Coin and 333 Stake Classic (STAKE) tokens at a price of $75 each.
This incident stands as a clear warning about the ongoing risks within the cryptocurrency realm, emphasizing the utmost significance of establishing and upholding strong security protocols to shield digital assets from the ever-evolving and persistent threats that hover over the cryptocurrency landscape.
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