MetaWin Crypto Casino Hacked, $4 Million Stolen

Key Points:

• MetaWin crypto casino lost over $4 million after attackers exploited its “frictionless withdrawal system” on Ethereum and Solana.
• MetaWin CEO confirmed the hack and temporarily halted withdrawals, later restoring access for 95% of users.

MetaWin crypto casino suffered a severe security breach today, wherein attackers walked away with over $4 million by exploiting its Ethereum and Solana hot wallets.

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MetaWin Crypto Casino Loses $4M in Major Security Breach

In the report provided by blockchain analyst ZachXBT, the stolen funds were traced back to over 115 addresses of the hacker, followed by successive transfers onto nested services on crypto exchanges Kucoin and HitBTC.

MetaWin CEO Richard Skelhorn confirmed the attack, citing that the attacker manipulated the platform’s “frictionless withdrawal system.” The vulnerability let the unauthorized access of MetaWin’s hot wallets, prompting them to immediately halt withdrawals.

At the time of his announcement, Skelhorn said 95% of all withdrawal services had been restored, minimizing an immediate impact to the end-users. To this date, there is no information about who the hacker is and what his motives might have been.

DeFi Security Under Siege as October Sees Surge in Attacks

This latest attack on the MetaWin crypto casino marks the most recent wave of high-profile cyber incidents in the DeFi space. On October 16, lending platform Radiant Capital was hit with a major exploit in which hackers stole approximately $58 million. In that particular situation, hackers manipulated Radiant’s smart contracts on the BNB Chain and Arbitrum network by accessing it through private keys obtained from its multi-signature wallet.

In a phishing attack on October 30, several decentralized applications were compromised by exploiting the Lottie Player animation library, which is very widely used across many different websites and tech companies.