<ul><li>Stake experienced a $41 million security breach due to a &#34;private key leak&#34;, affecting its hot wallets on multiple blockchain networks.</li><li>Stake assured user funds were secure and initiated an immediate investigation into the unauthorized transactions.</li><li>The firm resumed all services just five hours after the breach.</li></ul>On September 4, 2023, Stake, an Australian-based online cryptocurrency casino, fell victim to a significant security breach, with an unauthorized withdrawal of an estimated $41 million. The exploit was linked to a &#34;private key leak&#34;, which granted unauthorized access to Stake&#39;s hot wallets on Ethereum and Binance Smart Chain networks. Reporting the exploit to its X community, Stake wrote:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/afe9afa1b96047a48c62564157879b4b.png" />Cryptocurrency investigator ZachXBT confirmed that $15.7 million was drained on Ethereum and another $25.6 million on Polygon and the Binance Smart Chain. The <a href="https://etherscan.io/tx/0x4629b7622c1beba84fdbbac78432fe06707894c8ed40811b1b70815e8a7efe7a" rel="noopener noreferrer nofollow">first unauthorized transaction</a> was detected at 12:48 pm UTC, involving a transfer of $3.9 million in Tether from Stake to an unknown account. This was followed by the removal of over <a href="https://etherscan.io/tx/0x98610e0a20b5ebb08c40e78b4d2271ae1fbd4fc3b8783b1bb7a5687918fad54e" rel="noopener noreferrer nofollow">6,001 Ether</a>, valued at around $9.8 million. Additional cryptocurrencies, such as USD Coin and Dai, were also drained in subsequent transactions.Beosin, a smart contract auditing firm, <a href="https://twitter.com/BeosinAlert/status/1698734648787079584?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1698734648787079584%7Ctwgr%5Ecbbb26a37aa5e886376f5c7905ab6fcbe67f8daf%7Ctwcon%5Es1_&amp;ref_url&#61;https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcrypto-gambling-site-stake-sees-16-million-withdrawals-possible-hack" rel="noopener noreferrer nofollow">reported</a> that the attack extended to other blockchain networks, including BNB Smart Chain and Polygon. According to their analysis, an additional $7.8 million was drained from Polygon and $17.8 million from BSC, bringing the total estimated loss to over $41 million.Read full article at C<a href="https://cryptotale.org/stake-faces-41-million-security-breach-recovers-swiftly/" rel="noopener noreferrer nofollow">ryptoTale.</a>

Stake Faces $41 Million Security Breach, Recovers Swiftly

CryptoTale

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