Read

/send

<div class="protos"> 
 <div> 
  <div> 
   <div> 
    <p>Crypto casino Stake looks to have been the victim of a near-$16 million exploit, according to blockchain security experts.</p> 
    <p>As reported by The Block, Cyvers and Peckshield say around 6,000 ether (worth around $9.8 million) and $5.9 million in stablecoins have been transferred off Stake in a number of “suspicious transactions.”</p> 
    <p>The funds were converted into various different cryptos, including DAI, Tether, and Circle’s USDC, and moved into multiple addresses. The original suspicious wallet is now empty, according to Cyvers.</p> 
    <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
     <div class="wp-block-embed__wrapper"> 
      <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
       <p lang="en" dir="ltr">UPDATEOriginal wallet of the suspicious address has been emptied<br><br>97 $ETH of the remaining funds are just transferred to https://t.co/9O7A0SLkRW#CyversAlerthttps://t.co/3lndSQ371F</p>— Cyvers Alerts (@CyversAlerts) September 4, 2023 
      </blockquote> 
     </div> 
    </figure> 
    <p>Reaction to the presumed hack has been mixed, with some claiming that it’s just the latest rug pull to affect the crypto industry (<strong>particularly given its controversial links to embattled influencer BitBoy</strong>), while others have shrugged it off with claims that $16 million represents “about three minutes of profit” for Stake.</p> 
    <h2 class="wp-block-heading" id="h-stake-is-being-sued-in-australia">Stake is being sued in Australia</h2> 
    <p>Late last month, <a rel="noopener noreferrer nofollow" title="Stake" href="https://thebittimes.com/tag/stake.html">Stake</a>, which is attempting to make in-roads into the lucrative Australian gambling market was sued by a Sydney-based share trading platform that goes by the same name.</p> 
    <p>Hello<a rel="noopener noreferrer nofollow" title="Stake" href="https://thebittimes.com/tag/stake.html">Stake</a>.com filed a federal court lawsuit arguing that it had already established a strong brand and reputation in Australia. Therefore, it says, the <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> <a rel="noopener noreferrer nofollow" title="casino" href="https://thebittimes.com/tag/casino.html">casino</a> shouldn’t be allowed to operate in the country under its current name.</p> 
    <figure class="wp-block-embed is-type-wp-embed is-provider-protos wp-block-embed-protos"> 
     <div class="wp-block-embed__wrapper"> 
      <blockquote class="wp-embedded-content" data-secret="pFu8Ay6UxS">
        Crypto casino Stake sued by firm with same name as it seeks Australian expansion 
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Crypto casino Stake sued by firm with same name as it seeks Australian expansion” — Protos" src="https://protos.com/crypto-casino-stake-sued-by-firm-with-same-name-as-it-seeks-australian-expansion/embed/#?secret=xOJIyPVRaL#?secret=pFu8Ay6UxS" data-secret="pFu8Ay6UxS" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe> 
     </div> 
    </figure> 
    <p><em>Read more: BitBoy cut from BitBoy Crypto — who’ll save crypto now?</em></p> 
    <p>The Aussie company also <strong>claimed that <a rel="noopener noreferrer nofollow" title="Stake" href="https://thebittimes.com/tag/stake.html">Stake</a> broke the law by using its name and making false and misleading statements on its website</strong>, which confused Australian customers into thinking the companies were related.</p> 
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;</em><em>Twitter</em><em>,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p> 
   </div> 
  </div> 
 </div> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-casino-stake-looks-to-have-been-hacked-for-nearly-16m-tbt61497.html">https://thebittimes.com/crypto-casino-stake-looks-to-have-been-hacked-for-nearly-16m-tbt61497.html</a></p>

Crypto casino Stake looks to have been hacked for nearly $16M

Table of Contents

TheBitTimes

Other articles published on Sep 4, 2023

Shiba Inu: 17% Americans Have Invested in SHIB

Uwerx On The Path to Redemption With Solid Relaunch Plans

Is Elon Musk Quietly Funding DOGE Development?

South Korea Aims to Freeze North's Crypto Assets with New Bill

OKX In Final Stage To Obtain Hong Kong VASP License As Retail Trading Market Grows

Shibarium Rug Pull Shakes SHIB and Binance Smart Chain

Join our free newsletter for daily crypto updates!