{"id":354801,"date":"2023-09-04T20:35:51","date_gmt":"2023-09-04T19:35:51","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=354801"},"modified":"2026-05-16T09:19:43","modified_gmt":"2026-05-16T08:19:43","slug":"crypto-betting-platform-stake-mum-on-reported-41m-fund-drain","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-betting-platform-stake-mum-on-reported-41m-fund-drain\/","title":{"rendered":"Crypto betting platform Stake silent on reported $41M fund drain"},"content":{"rendered":"

Several blockchain security firms, including Peckshield<\/a>, have reported the suspicious movements of significant funds on crypto-based sports betting platform<\/a> Stake.<\/p>\n

Cyvers platform first reported<\/a> the incident, noting that about $16 million of stablecoins were converted into Ethereum (ETH<\/a>). On-chain sleuth ZachXBT corroborated the report, adding that “another $25.6M was drained on Binance Smart Chain (BSC) and Polygon (MATIC<\/a>).”<\/p>\n

This brings the total amount siphoned from the platform to approximately $41 million as of press time.<\/p>\n

Stake has yet to respond to CryptoSlate's <\/em>request for comment as of press time and has not issued any public statement about the reported exploit.<\/p>\n

Are North Korean attackers involved in Stake exploit?<\/span><\/h2>\n

This is not the first incident involving a crypto-gambling platform<\/a>. Earlier in the year, Alphapo, a cryptocurrency payment service provider for gambling sites like HypeDrop, Bovada, etc., lost more than $60 million to a security breach of its hot wallet. The U.S. FBI reported<\/a> that the theft was from North Korea-backed state hackers.<\/p>\n

Cryptocurrency researcher Tayvano noted that it was too soon to tell if the exploit could be linked to North Korea because of the limited transactions. The researcher added<\/a>:<\/p>\n

“[The] biggest indicator will come from Stake themselves. e.g. if one of their devs has been applying for a lucrative, high-paying job at cryptocom.”<\/p><\/blockquote>\n

North Korea's involvement in illicit cryptocurrency activities, mainly through state-supported actors like the Lazarus hacking group, has raised concerns from authorities worldwide. A CryptoSlate<\/em>\u00a0report<\/a>\u00a0revealed that North Korean-backed hackers had stolen $497 million in cryptocurrencies from U.S. businesses since 2017.<\/p>\n

Meanwhile, CertiK, a blockchain security firm, tentatively associated<\/a> the incident with a potential private key compromise. However, it's important to note that no definitive confirmation of malicious activity exists.<\/p>\n

Despite these speculations, the exact cause of the exploit remains unknown as of press time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Several blockchain security firms, including Peckshield, have reported the suspicious movements of significant funds on crypto-based sports betting platform Stake. Cyvers platform first reported the incident, noting that about $16 million of stablecoins were converted into Ethereum (ETH). On-chain sleuth ZachXBT corroborated the report, adding that “another $25.6M was drained on Binance Smart Chain (BSC) […]<\/p>\n","protected":false},"author":720,"featured_media":354804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16041],"tags":[78836,78835],"post_folder":[],"acf":[],"yoast_head":"\nCrypto betting platform Stake silent on reported $41M fund drain<\/title>\n<meta name=\"description\" content=\"Crypto gambling platform Stake lost more than $40 million to a series of malicious transactions earlier today.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/crypto-betting-platform-stake-mum-on-reported-41m-fund-drain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto betting platform Stake silent on reported $41M fund drain\" \/>\n<meta property=\"og:description\" content=\"Crypto gambling platform Stake lost more than $40 million to a series of malicious transactions earlier today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/crypto-betting-platform-stake-mum-on-reported-41m-fund-drain\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-04T19:35:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-16T08:19:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/09\/crypto-drain.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/crypto-betting-platform-stake-mum-on-reported-41m-fund-drain\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/crypto-betting-platform-stake-mum-on-reported-41m-fund-drain\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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