Post
Topic
Board Gambling
Merits 1 from 1 user
Re: Metawin got hacked, $4 million stolen
by
shield132
on 05/11/2024, 16:58:05 UTC
⭐ Merited by Little Mouse (1)
The CEO already said that they have covered what has been lost in the hack, meaning it's from their own money. I'm seeing that this casinos has been in the crypto space for years and they have a lot of promotions and competitions paying huge amount. So it's safe to assume that it might be just a drop in the ocean for them.

Nevertheless, there are still questions for the management of Metawin and the main one is why such an amount was stored on a hot wallet and not on a cold one. In this case, there would be no problem at all with the safety of $4 million. I think the management of Metawin and other casinos will learn a lesson from this.
Metawin is a different casino, it prioritizes Web3 technologies. Metawin gives you the option to withdraw up to 19 ETH per day in less than 60 seconds, without any human interaction. When you offer such a service to people, you have to put a good amount of money in your hot wallet. If you don't put, then you won't be able to offer such a high limit.

$4 million dollar is not a huge amount of money for a hot wallet in either way for a popular crypto casino. Stake, the most popular crypto casino lost $41 million to hot wallet. These numbers aren't big numbers for crypto casinos these days.