The hackers responsible for the $41 million hack of cryptocurrency casino Stake have continued their illicit activities. According to blockchain security firm CertiK, they have recently transferred an additional $328,000 million worth of Polygon (MATIC) and BNB (BNB) tokens. These moves follow the exploit that occurred on September 4. The most recent transfer involved 300 BNB tokens worth approximately $61,500, which were then bridged to the Avalanche blockchain on September 11 at 4:09 pm UTC. Furthermore, 520,000 MATIC tokens worth over $266,000 were moved to Avalanche seven hours earlier at 7:18 am UTC. Although the $4.8 million transferred is a significant sum, it constitutes only 1.2% of the total $41 million stolen.
The hacker gained access to the private key of Stake’s Binance Smart Chain and Ethereum hot wallets, enabling them to carry out the September 4 hack. The United States Federal Bureau of Investigation (FBI) is of the belief that North Korea’s Lazarus Group was behind this exploit. With the theft of $41 million from Stake, the total amount lost to cryptocurrency hacks and scams in 2023 has now exceeded $1 billion.
CertiK previously reported that the total losses reached $997 million by the end of August, but with multiple attacks occurring in the last two weeks, the figure has now surpassed the $1 billion mark. In a phishing attack on September 6, a cryptocurrency whale lost $24 million in staked Ether (ETH). Then, on September 9, Vitalik Buterin’s X (formerly Twitter) account was compromised, allowing the hacker to deceive several victims in a nonfungible token scam and amass a total of $691,000. Taking these three incidents into account, CertiK’s August figure of $997 million is now at least $1.04 billion.
The escalation of cryptocurrency hacks extends beyond the exploits mentioned above. Pepe (PEPE) coin experienced a withdrawal incident that resulted in $13.2 million in losses for investors. Additionally, Exactly Protocol fell victim to an exploit that cost $7.3 million. Furthermore, Balancer’s security vulnerability led to $2.1 million in damages.
The cryptocurrency industry continues to be plagued by malicious actors, with losses exceeding $1 billion in 2023. The recent hack of Stake serves as a stark reminder of the vulnerability of cryptocurrency platforms and the need for enhanced security measures. The ongoing efforts by law enforcement agencies, such as the FBI, to identify and apprehend the perpetrators are crucial in combating these cybercrimes. However, it is evident that more comprehensive safeguards and regulations are required to protect both investors and the integrity of the cryptocurrency ecosystem.
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