The attacker who targeted Metawin has managed to steal a large amount of tokens from the Ethereum and Solana hot wallets by exploiting vulnerabilities in the platform's protocol.
The attacker has stolen a large amount of tokens from the Ethereum and Solana hot wallets of the Metawin casino by exploiting the "frictionless withdrawal" system of the protocol, according to an announcement from Metawin's CEO, Richard "Skel" Skelhorn.
On-chain detective ZachXBT, along with Skelhorn, estimates the stolen amount to be over $4 million, with 115 addresses involved in the exploit, indicating a high level of technical expertise by the hacker. ZachXBT stated: "So far, the stolen funds have been transferred to Kucoin and a mixing service of HitBTC."
While Metawin's withdrawal system has been temporarily suspended, Skelhorn updated on Discord that this feature has been restored. He also stated that the incident has been reported to the authorities.
"We won't dwell too much on this incident. For now, everything is in the hands of the authorities, and we will make internal adjustments to ensure player satisfaction and exclude bad actors," Skelhorn shared.
In a previous message, he hinted at using personal funds to compensate for the losses: "I just broke my piggy bank. We won't stop, but continue to develop."
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The article Crypto casino Metawin loses $4 million due to hot wallet vulnerability first appeared on CoinMoi.
