Crypto Casino Metawin has lost over $4m after its wallets were drained in a major cyberattack. [Image: Shutterstock]

Casino suffers attack

Crypto Casino Metawin has suffered a major cyberattack which resulted in $4m drained from the company’s Ethereum and Solana hot wallets.

The attack, which took place on November 3, exploited Metawin’s frictionless withdrawal system. After gaining access to the wallets, the hacker quickly made off with $4m in Ethereum (ETH) and Solana (SOL).

the funds have since been moved to the KuCoin exchange and a nested service on HitBTC

According to blockchain investigator ZachXBT, the funds have since been moved to the KuCoin exchange and a nested service on HitBTC, with 115 wallets linked to the attack so far.

Normal service restored

Responding to the attack, Metawin CEO Richard “Skel” Skelhorn stated: “We temporarily paused withdrawals to assess and secure our systems. Now, withdrawals have been re-enabled for 95% of users, with final checks underway for the remaining accounts.”

“We’re in the process of topping up wallet balances now. We’ll also be implementing additional security controls for new users, while also exploring ways to maintain a flexible and seamless experience for our trusted community.”

We’re not gonna dwell on it. It’s in the hands of the feds now”

Skelhorn went on to confirm that the authorities had been contacted, saying to ZachXBT: “We’re not gonna dwell on it. It’s in the hands of the feds now…we will make some internal adjustments to keep the players happy but the bad actors at bay.”

As for the source of the funds to top up the wallets, Skelhorn claimed he used his own personal fortune to help finance the replenishment. “I just emptied my piggy bank… We keep building.”

Crypto hacks continuing

The attack is the latest in a series of hacks which have affected many crypto users over recent months. In October, Radiant Capital suffered a major exploit for $55m, while a wallet believed to be controlled by the US government was also drained of $20m.

$88m lost in crypto hacks in the month of October alone

The losses made up the bulk of a reported $88m lost in crypto hacks in the month of October alone, while November started off in much the same manner when attackers made off with over $13m from centralized exchange M2 last week.

The repeated attacks have nonetheless failed to stem the flow of the ongoing bull market in crypto, or indeed its increasing adoption in the gambling world. Crypto casinos are continuing to proliferate, while in the United Kingdom, crypto companies are quickly replacing gambling sponsors for Premier League soccer clubs.