Kick owner Stake reportedly hacked for $41 million dollars

Popular crypto gambling site Stake has reportedly been hacked, with the person responsible over $40 million from their various wallets.

Australian based crypto gambling site Stake has gained mass popularity over the last few years by sponsoring various Twitch streamers — sparking controversy about gambling on the platform.

Various Stake owners have since gone on to create a rival streaming platform, Kick, bringing the likes of Trainwreck and Adin Ross over to the site.

Stake was reportedly hacked on September 4, 2023, losing over $40 million dollars in the process through various blockchain wallets.

Stake reportedly hacked for $41 million dollars

As shared by CoinDesk, Stake suffered multiple “suspicious transactions” on September 4 that initially saw just $16 million removed from the company’s blockchain wallets.

Blockchain sleuths Cyvers Alerts and ZachXBT confirmed the amount of money moved between wallets, and Zach even discovered another series of transactions where Stake lost over $25 million in BSC and Polygon tokens.

Shortly after the hack was discovered, Stake reportedly suspended all deposits and withdrawals from the online platform.

🚨ALERT🚨Our AI-powered system has detected multiple suspicious transactions with @Stake.https://t.co/0ZoMITOyF5 address received about $16M in $ETH $USDC $USDT and $DAI

All the stable coins are converted to $ETH and distributed to different EOAs.

FYI: @tayvano_ @zachxbt pic.twitter.com/CSGwRHEiVm

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 4, 2023

This presumably was done to prevent any more transactions while they track down the various wallets that may be holding their funds

It’s unknown how — or if — this will affect payouts on Kick or if the suspension of withdrawal will only affect users of the actual Stake website.

We’ll update you as information is released, but in the meantime, you can head over to our entertainment section for more news and other viral stories.