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


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: 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 





















Blockchain for dog nose wrinkles' Ponzi makes off ~$127M🐶

Project promised up to 150% returns on investment in 100 days, raising about 166.4 billion South Korean won — or about $127 million — from 22,000 people.

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