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The crypto-casino Stake.com has come out reassuring its users after around $41 million USD worth of cryptocurrency was reportedly stolen in a hack. The hackers apparently made several unsanctioned transactions a couple of hours ago, which led to the loss of massive funds from the company, which has emerged as the world's leading crypto-based gambling website.
In a post on X, formerly Twitter, Stake has announced that the transactions were made from some of its ETH/BSC hot wallets, and the investigation is ongoing to close the leak. Notably, they also reassured the users and stated that no user-fund has been affected.
"User funds are safe."
This also means that hot wallets that deal with other cryptocurrencies, such as BTC and LTC, were not affected at all and remain fully functional.
"Affected wallets should be restored shortly": Ed Craven sheds light on Stake $41 million hack, says users should be unaffected
The crypto-casino has made a name for itself as a global brand, recently getting into the live-streaming business with its close association with Kick.com. A number of celebrity ambassadors of the website, such as Drake, have done a lot to promote it around the world, and Twitch and Kick streamers such as Trainwreckstv and Adin Ross can be seen promoting gambling on the platform on their livestreams.
The hack, which has apparently led to a loss of around $41 million, however, appears to have not affected the users. That said, the affected ETH/BSC hot wallets are currently under maintenance following the breach, and Stake co-founder Eddie Craven has shed some more light on the situation.
In the same thread on X, Eddie explained that the platform only keeps a small portion of its cryptocurrency in the hot wallets and further reassured users that functionality will return shortly to affected wallets:
"All affected wallets should be operational shortly."
In a further exchange with a supposedly affected user who had raised concerns about having used ETH during the time of the hack, Eddie Craven told them that the amount would be credited shortly.
However, some have been skeptical about funds being safe, with one X user noting that the hack supposedly took out millions of dollars. Others think that the loss will be borne out by the company alone.
Read all about Stake's Formula 1 branding and their partnership with the Alfa Romeo F1 Team that was changed for a Kick-themed one featuring big streamers such as xQc and GMHikaru for the Belgian GP.
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