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Stake.com Hack 2024 – Safeguard Your Bets with Proven Strategies

Last Updated on 23/05/2024

To date, there has only been one major Stake.com hack to speak of, which occurred in September 2023. In total, an estimated $41 million was taken from the crypto casino’s blockchain wallets.

Fortunately, Stake reported that this did not affect any of their players’ funds, and no other reports or claims appear to contradict this. Still, there are some alarm bells to be raised and lessons to be learned to give you peace of mind when betting online. So read on below to find out more.

Stake.com hack September 2023 – What happened

In September 2023, Stake.com, a cryptocurrency online casino and sports betting site was the subject of a hack. An approximate total of $41 million was taken from the company’s blockchain wallets.

Here’s a breakdown of what happened:

  • The money was taken via anonymous transactions on the Ethereum blockchain
  • An estimated $16 million was stolen from Stake.com’s Ethereum accounts
  • A further $25 million was taken from the company’s Binance Smart Chain (BSC) and Polygon accounts

Site:Stake.com
Date:September 2023
Total funds stolen (Estimated):$41 million
Type of hack (Suspected):Compromised private keys
Suspected culprits:North Korea (Unconfirmed)

A breakdown of funds stolen

As we explained above, Stake.com was attacked and stolen in three areas because the private keys on their hot wallets were compromised. We’ll go into this in a bit more detail below. For now, here’s a bit more detail on the sequence of the Stake.com hack and exactly what funds were stolen.

Ethereum – $15.7 million

The first things that were attacked were Stake.com’s Ethereum hot wallets. Here’s a breakdown of the assets taken:

  • 6,001 ETH
  • 3.9 million USDT
  • 1.1 million USDC
  • 900,000 DAI

Binance Smart Chain (BSC)

Here’s what was taken from the BSC hot wallets:

  • 12,000 BNB
  • 7.35 million BSC-USD
  • 1.8M USDC
  • 2100 ETH
  • 1.3M BUSD
  • 83.9B SHIB
  • 40K LINK
  • 300K MATIC

Polygon

Last but not least, here’s what the hackers took from the Polygon accounts:

  • 70,000 DAI
  • 4.22 million USDT
  • 1.78 million USDC
  • 3.25 million MATIC

How this Stake.com hack happened

The attack was the result of private keys being compromised, rather than a large-scale Stake.com crash or digital break-in. In layman’s terms, either an inside or outside attacker got hold of passcodes to enter these accounts.

As a result, the hack was detected by the suspicious account activities being flagged up. Large quantities of money was being transferred from Stake.com’s accounts into the hacker’s, so someone was bound to notice.

Where did the money go?

After the money was transferred to the hacker’s account, some of it was quickly laundered by converting the stolen crypto into BTC. However, estimates suggest that just 72 BTC has been laundered while the rest remains in the attacker’s hot wallet.

Stake.com’s response to the hack

Stake took five hours to publicly acknowledge that the hack had taken place. However, account holders were informed that the site was down for maintenance around two or three hours after the attack.

In their public statement, Stake.com was quick to assure that none of their user’s funds had been compromised.

The aftermath – What we can learn from the Stake.com hack

Basically, we have learned that the blockchain technology protecting crypto funds is very safe from hacking. This hack was a case of compromised private keys in all likelihood.

The main lesson to learn is that accounts and wallets with large amounts of funds should not be protected by a single private key. The more layers of protection, the better.

Main lesson you can learn: Protect your funds online with as many layers and protocols as possible

Stake.com is still safe

The main thing to take away from this is that no player funds were stolen or put at risk here. Therefore, it is still a safe site and we wouldn’t let this put you off of playing at this crypto casino.

Still, if you want to explore other options, you can check out the best Stake.com alternative casinos and sportsbooks online here.

Get an exclusive welcome bonus at Stake.com

You don’t need to be a hacker to get something extra – we’ve got an exclusive Stake.com bonus for you. Register with the promo code ‘GAMELANDGG’ today and get a 200% up to $2,000 as a welcome bonus.

Site:Stake.com
Welcome bonus:200% up to $2,000
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Stake.com pros and cons

Moving away from the Stake.com hack and onto lighter matters, let’s take a look at the main advantages and disadvantages of the site itself:

Stake Sports Feature Image
Stake.com Hack
  • Exclusive welcome offer
  • 4,000+ casino games
  • Plenty of sports betting markets
  • Exclusive provably fair games
  • Restricted in some regions

Stake.com hack – Final verdict and conclusion

While not an insignificant hack by any means, this shouldn’t be too alarming for you as a player. It looks like it was conducted by someone getting their hands on account codes rather than a software or hardware hack.

The bottom line is that no player funds were affected. Still, you should make sure to protect your funds and accounts with 2FA, a secure password and as many other layers of protection as you can find.

Stake.com hack FAQ

🤔 Was Stake.com hacked for $41 million?

Yes, Stake.com, the crypto gambling site, was hacked in September 2023 and an estimated $41 million was stolen. You can read more about the hack and the lessons learned here at Gameland.gg.

❓ Did North Korea steal from Stake.com?

$41 million was stolen from Stake.com’s Ethereum, BSC, and Polygon accounts. The FBI suspects that it was a North Korean group who were responsible, but to date, nothing has yet been 100% proven.

🤨 What happened to Stake.com?

Stake.com was hacked in September 2023 for $41 million, but player funds were not stolen. To find out more and to discover the latest Stake.com free money bonuses, head to Gameland.gg.

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