Unknown actor withdrew more than $40 million from Stake wallet
The wallet of the Stake betting platform was hacked. The Cyvers Alerts team reported the suspicious transactions.
Analysts said the attacker “obtained about $16 million in ETH, USDC, USDT and DAI”. At the time of writing, the Stake team had not responded to messages from Cyvers Alerts and PeckShield.
Latest analyses indicated that the hacker transferred 6,001 ETH, 900,000 DAI, $1.1 million USDC and $3.9 million USDT. They have not yet clarified how the unknown actor managed to hack the wallet.
On-chain analyst going by the pseudonym ZachXBT pointed to a further loss of $25.6 million.
Stake co-founder Edward Craven told DL News in an interview that the project had lost about $41 million as a result of the hack. According to him, the platform’s private keys were not compromised, but the hacker withdrew funds from actively used hot wallets.
The attack was “sophisticated” and targeted the transaction authorization service used by the company, Craven said.
“The lost funds are by no means trivial, but the incident did not have a material impact on Stake’s operations,” he said.
Some experts noted that in 2022 the platform generated revenue of $2.6 billion.
From January to August losses to Web3 Web3-platforms from hackers and scammers totaled $1.25 billion, according to Immunefi.
Earlier Beosin experts estimated industry losses from hacks and fraud in the first half of the year in $655.6 million.
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