CoinsPaid

Read

Avalanche

The tokens were part of $7.8 million in Polygon’s MATIC stolen from crypto casino Stake on Sept. 4, along with millions in other cryptos. 
On-chain data showed that the hacker who stole millions in digital assets from crypto casino Stake on Sept. 4 has bridged some looted <a href="https://crypto.news/price/polygon/" data-type="link" data-id="https://crypto.news/price/polygon/" rel="noopener noreferrer nofollow">MATIC</a> tokens to Avalanche. 
According to transactions seen on <a href="https://polygonscan.com/address/0x32860a05c8c5d0580de0d7eab0d4b6456c397ce2" data-type="link" data-id="https://polygonscan.com/address/0x32860a05c8c5d0580de0d7eab0d4b6456c397ce2" target="_blank" rel="noopener noreferrer nofollow">Polygonscan</a>, the address “0x32860a05c8c5D0580dE0D7Eab0D4b6456C397Ce2” received over 3.2 million MATIC coins from the Stake hacker in two transactions. 
On Sept. 6, two days after the exploit, the hacker’s address had funneled 2.8 million of Polygon’s native tokens to 10 separate wallets so far.&nbsp; 
The moved funds are worth an estimated $1.5 million, with MATIC trading around 55 cents at press time. 
Blockchain security shop CertiK confirmed that some funds were subsequently sent to Avalanche via bridges, a solution allowing users to send cryptocurrencies from one blockchain to another. The hacker also bridged from Avalanche to Bitcoin, according to CertiK. 
<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="550" data-dnt="true"> 
 In total, the Stake hacker has transferred ~2.8M MATIC out of EOA 0x328 to various EOAs. The majority of the funds have been bridged to AVAX and then bridged to BTC<a href="https://t.co/m1zk2vjoQD" target="_blank" rel="noopener noreferrer nofollow">https://t.co/m1zk2vjoQD</a>— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1699425022320738540?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 6, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
Crypto casino Stake suffered suspicious outflows from one of the platform’s hot wallets on Sept. 4. Hot wallets are internet-connected crypto tools used by crypto service providers for frequent transactions. 
Unlike cold storage alternatives, these wallets are more prone to malicious attacks since they are connected to the internet. 
The hacker siphoned $41.3 million in digital assets like <a href="https://crypto.news/price/bnb/" data-type="link" data-id="https://crypto.news/price/bnb/" rel="noopener noreferrer nofollow">BNB</a>, DAI, Ether (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>), USDC, and USDT from Stake across three blockchains – Binance Smart Chain (BSC), Ethereum, and Matic. 
 Read more: <a href="https://crypto.news/stake-reportedly-hacked-15-7m-suspiciously-moved/" rel="noopener noreferrer nofollow"> Stake reportedly hacked, $15.7m suspiciously moved </a> 
Stake has yet to comment on the exploited vulnerability, although co-founder Edward Craven said the situation is “under control” and operations resumed on the same day as the incident. 
The theft underscores concerns regarding attacks on crypto-related platforms. CoinsPaid, a crypto payments operator, was <a href="https://crypto.news/breaking-coinspaid-targeted-in-37-3-million-hack/" data-type="link" data-id="https://crypto.news/breaking-coinspaid-targeted-in-37-3-million-hack/" rel="noopener noreferrer nofollow">hacked</a> for $37 million in August 2023 by suspected North Korean-funded cyber criminals.&nbsp; 
 You might also like: <a href="https://crypto.news/coinspaid-reveals-how-job-offer-led-to-37m-hack/" rel="noopener noreferrer nofollow"> CoinsPaid reveals how job offer led to $37m hack </a>

Stake hacker bridges $1.5m in stolen MATIC

crypto.news

Other articles published on Sep 7, 2023

Financial Privacy and Regulation Combined: Insights from Vitalik Buterin on ZK Proofs

Genesis Sues Parent Firm DCG Over $600 Million Loan Repayment

Russian lawmaker warns digital ruble could oust traditional banks

ARK Invest Files for Ethereum ETF

Vitalik Buterin Dumps MKR After Two Years In Unexpected Move

Crypto wealth report - “We’re unlikely to ever see these prices again”

Join our free newsletter for daily crypto updates!