On-Chain Analysts Report 6,000 ETH and $5.9 Million in Stablecoins Transferred from Stake.com
The popular online gambling platform Stake.com was rocked today by a notable fund withdrawal. On-chain data and Wu Blockchain have indicated that approximately $15.7 million in cryptocurrency was withdrawn from the platform. This sum includes 6,000 ETH (Ethereum), 3.9 million USDT, 1.1 million USDC, and 900,000 DAI.
According to a subsequent announcement, the loss could be around $25.6 million. This was reported by the Twitter account @ZachXBT.
Security Flaw or Normal Activity? Large Fund Movement on Stake.com Concerns Investors
On-chain analysts who detected this activity speculate that a security vulnerability could be behind the movement. Stake.com is an important online gambling platform that allows transactions in cryptocurrencies. Considering Stake.com is an Australia-Curaçao based company with a global user base, this kind of fund withdrawal is a major source of concern for investors and users.
So far, Stake.com authorities have not issued a statement on the matter.