Stake.com, the world’s largest crypto casino, has suffered a major hack resulting in a loss of $41.3 million. The platform has suspended all deposits and withdrawals, leaving many users unable to access their funds. According to Cyvers, a crypto security firm, and Beosin, a web3 security agency, the majority of the stolen funds were drained from Stake.com’s hot wallet on the Binance Smart Chain, accounting for $17.8 million. The remaining funds were withdrawn on Ethereum and Polygon.Stake.com is an online casino and sports betting platform that allows users to bet using crypto. The company has been associated with famous rapper Drake and the Formula One team, Alfa Romeo. According to a Dune dashboard, Stake.com has had over $2.1 billion in cumulative customer deposits since August 2022. Co-founder Ed Craven shared last year that the platform was responsible for nearly 6% of all Bitcoin transactions, 12% of all Dogecoin transactions, and 15% of all Litecoin transactions.As of today, Stake.com has not shared the specifics of the breach or who the potential attackers may be. However, the company has assured customers that their funds are safe.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	8
People	Alfa Romeo, Drake, Ed Craven
Companies	Binance Smart Chain, Dune, Polygon, Stake.com, Alfa Romeo, Ethereum, Beosin
Currencies	Chain Games, Polygon, Dogecoin, Ethereum, Bitcoin
Securities	None