Crypto casino Metawin recently faced a security breach, resulting in losses exceeding $4 million. The incident details and measures taken to protect users are discussed below.
Details of the Hack
Metawin CEO Richard 'Skel' Skelhorn reported that the attack targeted the platform's withdrawal mechanism. Hackers exploited the 'frictionless withdrawal system' to access and drain funds from hot wallets tied to Ethereum and Solana. In collaboration with investigator ZachXBT, it was determined that the hacker accessed over 115 addresses during the attack, demonstrating a high level of technical skill.
Measures to Protect Users
In response to the hack, Skelhorn assured users that his team is actively working to strengthen platform security. On Metawin's Discord, he confirmed measures are being implemented to prevent similar incidents in the future and mentioned his personal financial contribution: 'I just emptied my piggy bank... We keep building.'
Rising Crypto Security Incidents
The Metawin hack adds to the growing number of security breaches in the cryptocurrency industry this year. In October alone, according to CertiK, $129.6 million was lost due to hacks, scams, and flash loan attacks. The largest recent loss was the Radiant Capital hack, with over $50 million in assets stolen.
The Metawin hack underscores the importance of security in the cryptocurrency industry as Skelhorn and his team continue to enhance platform protection.
