Stung for $40M in Cryptocurrency Hack

September 18, 2023
Mark Patrickson, a popular crypto sports betting and casino gaming platform, recently fell victim to a cyberattack that resulted in the loss of over $40 million in cryptocurrency. Canadian rapper and keen sports bettor Drake is famous for dropping huge sums on the site but now the site itself is counting the cost of a loss.

User Funds Untouched

The attack was first made public by digital security company Cyvers Alerts via X (formerly known as Twitter), which revealed that the hack was due to a private key leak. The theft reportedly affected the platform's holdings, but user funds remained untouched. temporarily disabled withdrawals after becoming aware of the attack but restored them a few hours later. founder and CEO Ed Craven assured users that their funds were safe and that the theft only affected a "small portion" of the platform's holdings. If $40 is small potatoes to these guys, we wonder just how much they’re sat on, particularly after their platform was banned from Twitch.

Security company Beosin estimated Stake’s losses at approximately $41.3 million. The cryptocurrency stolen came from Ethereum, Polygon, and Binance Smart Chain wallets. Bitcoin, Ripple and Litecoin wallets are said to be unaffected.