- Stake Casino suffered a $41 million exploit on September 4, 2023, attributed to a “private key leak.”
- The attack spread across multiple blockchain networks, including Ethereum, Polygon, and Binance Smart Chain, resulting in substantial losses.
- The incident highlights security concerns in the growing crypto industry amid global adoption.
When there are financial transactions involved, there is always room left for scams to occur. In the crypto-landscape, another incident has unfolded wherein PeckSheildAlert has tweeted about a $41 million exploit at Stake Casino. Let’s scoop into the details and find out the details for ourselves.
On September 4, 2023, a cryptocurrency casino, Stake, fell victim to an exploit. On-chain analyst Cybers reported a staggering $16 million withdrawal from the Ethereum network and attributed it to a “private key leak.”
The claim immediately gained significant credibility, and blockchain investigator ZachXBT supported Cyver’s statement and confirmed that Ethereum losses have been up to $15.7 million. The attack, however, did not confine itself to Stake Casino or Ethereum.
It managed to reach other blockchain networks, including Polygon and the Binance Smart Chain, resulting in a combined loss of $25.6 million. According to Cyvers, the address 0x3130 received about $16M in Ethereum, USDC, USDT, and DAI. All stablecoins were converted to Ether and distributed to different EOAs.
As per PeckShieldAlert, the attack that extended to Polygon Network has managed to swap a total of almost 3.376M Matic for almost 72.29 Bitcoin, which holds an estimated worth of $1.8 million. The total amount drained on 5 September is about $41 million.
This scam now marks another glitch in the security system of the crypto industry. As the global adoption of cryptocurrency continues, these glitches mark a high-security concern for users.