“We are investigating and will get the wallets up as soon as they’re completely re-secured,” Stake said. NOW READ: deadline nears: Billionaire founder sued by ex partner over marketing of world’s biggest crypto casino Stake previously confirmed the hack on Monday via a post on X, formerly Twitter, but said that user funds were safe despite the incident.
“Private keys were not compromised but the attacker was able to make several unauthorised transactions from our hot wallets,” Craven told DL News on Tuesday.
If a malicious actor gains control of these keys they can use them to access a victim’s wallet and syphon funds. Private keys are password-like codes that control access to crypto wallets. Craven said the attack was a “sophisticated breach” that targeted a service the company uses to authorise transactionsĬrypto’s biggest online casino and sports betting platform Stake was hacked for $41 million on Monday, but its co-founder Edward Craven says the breach was not due to hackers gaining control of its private keys.īlockchain security experts had previously speculated that Stake’s private keys were compromised.The attack involved unauthorised withdrawals from a heavily-trafficked hot wallet belonging to the crypto casino.Stake co-founder Edward Craven confirmed the hack but said the platform’s private keys were not compromised.