Stake, a cryptocurrency gambling platform, managed to restore deposits and withdrawals just five hours after a substantial hack, which estimates from blockchain security firms place at $41.3 million.
The breach involved unauthorized transactions in Stake's ETH/BSC hot wallet. Although the platform did not disclose the cause of the breach or the exact amount stolen, it confirmed that user funds remained secure. The breach affected Bitcoin, Litecoin, and Ripple.
Blockchain security firm Beosin estimated the total loss at $41.35 million. Ethereum lost approximately $15.7 million, while Polygon and BNB Smart Chain lost $7.8 million and $17.8 million, respectively. Previously, PeckShield, another blockchain security firm, estimated the loss at $15.7 million but did not account for the $25.6 million allegedly lost by BSC and Polygon.
The attackers initiated their assault at 12:48 PM UTC by transferring around $3.9 million worth of Tether from Stake to their own account. Subsequent transactions involved the removal of over 6,000 ether, valued at approximately $9.8 million at current market p rices.
The attackers continued their spree by liquidating various tokens over the next few minutes. Among the assets taken were about $1 million in USD tokens, roughly $900,000 in Dai, and 333 Stake Classic (STAKE) tokens, equivalent to $75. These events account for the initial $15.7 million loss on the Ethereum network.
