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  1. #1
    gamblingvista is offline Private Member
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    Unhappy Stake.com hacked for from $16million - $41 million

    Stake.com, the world's largest crypto casino, has reportedly been hacked for $16 million. Crazy!

    Read the article here: https://cointelegraph.com/news/crypt...819.1692103676
    James / Clicking Media Group
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    Don't you have to hook up your wallet directly with, in this case Stake.com. Even though they don't have access to your private key(s), it still seems like a risky process if things can go pear shaped like they have done, now. I'm not a crypto expert by any means... Maybe someone who is, can explain how this happened and what risk are there for players, who are connecting their wallet(s) to these systems?

  4. #3
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    DaftDog is offline Private Member
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    Quote Originally Posted by AussieDave View Post
    Don't you have to hook up your wallet directly with, in this case Stake.com. Even though they don't have access to your private key(s), it still seems like a risky process if things can go pear shaped like they have done, now. I'm not a crypto expert by any means... Maybe someone who is, can explain how this happened and what risk are there for players, who are connecting their wallet(s) to these systems?
    Players don't "hook" up their accounts, they just provide a payment address to receive funds to their chosen wallet and Stake would provide an address to one of their wallets to receive player deposits.

  5. #4
    chaumi is offline Private Member
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    I don't get it. But perhaps that's just ignorance.

    So, a players account gets hacked???, and someone withdraws $41 million of assorted crypto. Not even in one go, multiple separate transactions.

    1. What, with no checks or safeguards of any type? Is that how withdrawing large sums of crypto from a casino typically works? (even a supposedly top-tier one).
    2. Why tf would a player/account-holder have $41 million worth of assorted crypto in a casino account? (they just won it?? Highly unlikely. It's dodgy money?? Hmmm. OFC there might be other 'logical/legitimate' reasons (guess some form of obfuscation)?
    3. How do they know it was hacked? It could just be the account holder (or someone associated with them) moving it to a previously unknown address??


    It kinda smells funny. But, as I say, maybe ignorance on my part.

  6. #5
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    Quote Originally Posted by chaumi View Post
    I don't get it. But perhaps that's just ignorance.

    So, a players account gets hacked???, and someone withdraws $41 million of assorted crypto. Not even in one go, multiple separate transactions.

    1. What, with no checks or safeguards of any type? Is that how withdrawing large sums of crypto from a casino typically works? (even a supposedly top-tier one).
    2. Why tf would a player/account-holder have $41 million worth of assorted crypto in a casino account? (they just won it?? Highly unlikely. It's dodgy money?? Hmmm. OFC there might be other 'logical/legitimate' reasons (guess some form of obfuscation)?
    3. How do they know it was hacked? It could just be the account holder (or someone associated with them) moving it to a previously unknown address??


    It kinda smells funny. But, as I say, maybe ignorance on my part.
    According to the OP's linked article, it was not a player account that was hacked but rather a stolen private key of Stakes hot wallet.:

    The withdrawing account has been labeled “Stake.com Hacker” by Etherscan, implying that the drained funds may be the result of a stolen private key.

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    Quote Originally Posted by DaftDog View Post
    Players don't "hook" up their accounts, they just provide a payment address to receive funds to their chosen wallet and Stake would provide an address to one of their wallets to receive player deposits.
    I'm aware that one has a payment address to send fund to, each crypto coin has its own unique ID addy for each player. And, Stake.com would also require the player to supply their unique coin addy to be paid withdrawal(s).

    Maybe it wasn't stake, they seem to have KYC and SoW.

    So must have been another crypto casino. One which requires no ID and allows one to use a VPN. Anyway, I thought wow this is great, that was until I read the criteria, which involved the player having to assign their wallet to the casino. Definitely wasn't just handing over a payment addy.

    Anyway...moot point cause it isn't Stake.com

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    TheBoyMitchell is offline Private Member
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    It was Stake.coms hot wallet that was hacked.

    https://twitter.com/peckshield/statu...97721342042621

    Also this. Filter for transactions over $100k in USD.

    https://t.co/4dfhYioApa


    https://coinwire.com/stakecom-halts-...o-casino-hack/
    Last edited by TheBoyMitchell; 5 September 2023 at 12:33 pm.

  10. #8
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    Thanks for the clarification on where the hack landed. I was kind of assuming it had to be something like that after Dave and a few others made some good points about how it was not very logical to be just any player account.

    Now the investigation on to what server or workstation must have been compromised, or how a login and password got exposed to get to the point where it was possible.

    Rick
    Universal4

    OK coinwire says 41 million so I will change title to a range for now.

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  12. #9
    TheBoyMitchell is offline Private Member
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    Yeah, my clients are super interested because they want to make sure it doesn't happen to them

  13. #10
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    Stake is definitely controversial.

    I've read about the $300-$580m law suits from former founder.
    https://www.casino.org/news/stake-co...d-by-us-judge/

    I read something about ties to FTX
    https://coingeek.com/stake-com-gambl...iel-friedberg/

    Those other stories didn't hurt them.

    This headline will. 42m in stolen Crypto.
    https://cointelegraph.com/news/crypt...-possible-hack

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  15. #11
    mickyfu is offline Public Member
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    I predict the closure of many affiliate accounts on the horizon . . . .

  16. #12
    butacasino is offline Brand New Member
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    Google Translated
    It is also a hot topic in Japan. thanks for the great info

    日本でも話題になっています。素晴らしい情報をありがとう

  17. #13
    TheBoyMitchell is offline Private Member
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  19. #14
    popiko0120 is offline Private Member
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    As stake casinos have become more well-known and popular, the number of hacks and attacks has increased. Please be careful as there are many spoofed emails.

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