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Stake.com resumes operations after unauthorised crypto transfers

| By Robert Fletcher
Cryptocurrency online sportsbook and casino Stake.com has returned to normal service after it was hit by a series of unauthorised transfers.
Stake.com Crypto

The incident took place yesterday (4 September) and impacted Ethereum, Polygon and the Binance Smart Chain (BSC) on Stake.com.

In a post on X, Stake.com said that unauthorised transfers were made from a number of its hot wallets. However, it added that user funds were safe.

Stake.com also said the incident only impacted the named wallets, with other wallets such as Bitcoin, Litecoin and XRP remaining fully operational throughout.

Following an investigation, Stake.com published another post on X five hours later to confirm services were back to normal.

“All services have resumed,” Stake.com said in the update. “Deposits and withdrawals are processing instantly for all currencies. We apologise for any inconvenience.”

Media reports $41.3m stolen

Stake.com did not disclose any further details about the incident. However, several reports within the cryptocurrency community suggest the operator was exploited for $41.3m (£32.8m/€38.4m).

Launched in 2017, Stake.com has more than 500,000 users registered around the world. Its network stretches across countries including Canada, Brazil, Japan and the UK.

The website also has in place a number of major sponsor deals across football and the Ultimate Fighting Championship. This includes a main, front-of-shirt sponsorship agreement with English Premier League club Everton.

Stake.com’s UK-facing website, Stake.uk.com, is operated in partnership with TGP Europe, which is licensed by the British Gambling Commission.

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