CRYPTO CASINO STAKE TARGETED IN REPORTED $40M EXPLOIT

Summary from the TLDR Crypto newsletter

Australian crypto casino and sportsbook, Stake, was hit with a $40m exploit involving insecure private keys. Cyvers reported that over $15m in ETH had been withdrawn from the wallet and another $25m was moved out across Polygon and Binance Smart Chain bridges. The exploit appears to be limited to just this wallet, and while a sizable sum was lost, it’s relatively small for Stake, which generated $2.2B in revenue in 2022.