The online casino platform MetaWin suffered an exploitation attack on November 3, causing the platform to lose around $4 million, and the CEO said the amount has been "compensated" after the incident.
According to the CEO of MetaWin, Mr. Skel, the attacker hacked into MetaWin's hot wallet through the platform's frictionless withdrawal system - leading to the suspension of withdrawal activities. However, the CEO also stated that as of the present time, withdrawal has been restored for 95% of the platform's customers.
On-chain analyst ZackXBT also revealed that the attacker transferred the stolen funds to Kucoin and a mixing service of HitBTC. This investigator also identified over 115 addresses related to the malicious actor.
Currently, the hacker's identity and the motivation behind the exploitation are still unknown. TinTucBitcoin has reached out to MetaWin for comment but did not receive a response before publication.
A statement from MetaWin CEO, Mr. Skel. Source: ZackXBT
Latest Hacks and Exploits
The MetaWin hack is just the latest cybersecurity incident in the Cryptocurrency world. On October 16, the lending platform Radiant Capital was breached and lost $58 million after a malicious actor gained access to some necessary private keys to execute transactions from Radiant's Multisignature wallet.
With the private keys, the attackers were able to control Radiant's on-chain BNB and Arbitrum smart contracts - allowing the hackers to self-transfer the funds.
On October 30, several decentralized applications became victims of a sophisticated phishing attack, compromising the popular Lottie Player animation library used by many websites and tech companies.
Exploiting the Lottie animation library allowed the threat actors to display malicious phishing links disguised as harmless elements on the websites of 1inch, TEN Finance, and many others.
Unsuspecting users who clicked on these fake links were directed to connect their wallets, and subsequently had their funds drained using the notorious "Ace Drainer" phishing software.
More recently, the M2 exchange was hacked for $13 million. Similar to the recent MetaWin exploit, the M2 exchange experienced an incident where the exchange's hot wallets were compromised - these wallets are connected to the internet and can be remotely accessed by anyone with sufficient technical knowledge.
