Post
Topic
Board Gambling
Re: Metawin got hacked, $4 million stolen
by
Jating
on 08/11/2024, 21:00:35 UTC
Do not panic. Everything is back to normal.

MetaWin CEO Skel said the gambling site was hacked. $4 million stolen. Onchain sleuth ZackXBT revealed that the attacker moved the stolen funds to Kucoin and a HitBTC nested service. He also identified more than 115 addresses associated with the malicious actor.
If actually all the stolen were sent to kucoin and Hitbtc then there is every possibility to restore them back with the hope that they can also write to these two exchange to halt lock their account freezed the funds inside, so that they can't make any further withdrawal after trying to exchange those stolen coin into another coin and withdrawal them out.

If the scammers actually sent the funds to centralized exchanges like Kucoin and others then I think recovering the funds would be very easier compared to when the funds is sent to decentralized wallets where the funds can be very difficult to track. Sending stollen funds to exchanges like Kucoin is more easier to track than the ones sent to non custodial wallet and I believe the team would have written to the exchanges involved so they can track how every penny is being moved and where it is send to later. Casino hacks has been in existence for a long time and every casino team needs to work on their security to prevent something like this from happening.
Yes you are right, like we know hackers never takes their hands off from casinos or gambling site, even exchanges are likewise facing these issues but the main thing should be on applying on more sophisticated security line, were it would be too hard for them to penetrate with these sites. Apparently, we know that even those hackers are also exploring more strategies to break through them and of course most of the hacking news we often hear are from insiders so it is not a new thing to hear that trusted site like this are being hacked.

It's not as easy as it sounds though, you can only react from this kind of attacks. Although for sure they have some kind of penetration testing before, but still hackers now are so good that they will find a loophole in your system without you finding it out in advance. And 99% of the time, casinos or any services for that matter are late in reacting to the hacks and they have lost a good amount before they identified it like in this case.

So now, what Metawin can do is to chance their protocols or what has been agreed upon during the withdrawals, maybe now it might take some time for them to review it first specially big withdraws. Hopefully though, Metawin users or customers will have to understand it as it might not be as instant withdrawal as it used to be.