Decoding Stake’s $41 Million Exploit

Decoding Stake’s $41 Million Exploit

Decoding Stake’s $41 Million Exploit

Decoding Stake’s $41 Million Exploit

Decoding Stake’s $41 Million Exploit

Read Time: 2 minutes

Summary:

On the 4th of September 2023, Stake, a betting platform, was hacked on Ethereum, Binance and Polygon chains. Around $41.3  Million was transferred to different accounts.

About Project:

Stake.com is a crypto gambling application with casino and sports betting platforms for Bitcoin and other cryptocurrencies. To learn more about them, check out their website.


Vulnerability Analysis & Impact

On-Chain Details

Attacker Address:  0x3130662aece32f05753d00a7b95c0444150bcd3c

Victim Contract:  0x974caa59e49682cda0ad2bbe82983419a2ecc400

Attack Transaction: 0x98610e0a20b5ebb08c40e78b4d2271ae1fbd4fc3b8783b1bb7a5687918fad54e


The Root Cause

  • Although the root cause is still unknown, one of the speculations suggests that the root cause of the hack was a compromise of the private key.
  • This means that the attacker somehow got access to the private that gave him access to all the funds
  • There are many reasons through which compromise of private keys can happen : 
  • Social Engineering – The attacker tricks you into giving them your private key 
  • Malicious Software – Once installed, they will steal private keys from your system 
  • Supply Chain Attack – This involves targeting the weak link of the supply chain. In blockchain, these are usually employees with redundant access to the core.
  • Brute Force – This involves guessing the private key until the right combination is achieved.

Flow of Funds

The attack included $41M worth of cryptos being drained from

  • $15.7M on Ethereum (9.62K ETH)
    • $1.1 M USDC
    • $3.9 M USDT
    • $900k DAI
    • 6000 ETH
  • $7.85M on Polygon (14.24M MATIC), and 
  • $17.75M on BNBChain (82.65K BNB)

The attack seems to be very well-orchestrated 

These are the addresses that are involved after the attack 

ETH

0x3130662aece32f05753d00a7b95c0444150bcd3c 

0x94f1b9b64e2932f6a2db338f616844400cd58e8a 

0xba36735021a9ccd7582ebc7f70164794154ff30e 

0xbda83686c90314cfbaaeb18db46723d83fdf0c83 

0x7d84d78bb9b6044a45fa08b7fe109f2c8648ab4e 

MATIC

0xfe3f568d58919b14aff72bd3f14e6f55bec6c4e0 

0xa26213638f79f2ed98d474cbcb87551da909685e 

0xf835cc6c36e2ae500b33193a3fabaa2ba8a2d3dc 

0xa2e898180d0bc3713025d8590615a832397a8032 

0x32860a05c8c5d0580de0d7eab0d4b6456c397ce2 

BSC

0x4464e91002c63a623a8a218bd5dd1f041b61ec04 

0x0004a76e39d33edfeac7fc3c8d3994f54428a0be 

0x95b6656838a1d852dd1313c659581f36b2afb237 

0xbcedc4f3855148df3ea5423ce758bda9f51630aa 

0xe03a1ae400fa54283d5a1c4f8b89d3ca74afbd62 

0xff29a52a538f1591235656f71135c24019bf82e5

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