Crypto casino Metawin recently became the target of a hacker attack, resulting in over $4 million in losses due to vulnerabilities in the withdrawal system.
Details of the Hacker Attack
According to Metawin CEO Richard “Skel” Skelhorn, the hack targeted the platform’s withdrawal mechanism designed for swift transactions. The hacker accessed hot wallets tied to Ethereum and Solana, draining funds. Consequently, the company suspended withdrawals to prevent further losses, later reconnecting it for about 95% of users after securing the system.
Immediate Platform Response and User Impact
In response to the hack, Skelhorn stated that his team is diligently working to reinforce platform security. On Metawin's Discord, he confirmed authorities have been notified and 'internal adjustments' are underway to prevent similar incidents in the future.
Rise in Crypto Security Incidents
The Metawin hack adds to the growing list of crypto security breaches this year. According to CertiK, October alone saw $129.6 million in losses due to hacks, exit scams, and flash loan attacks. Recent incidents include Radiant Capital with losses over $50 million and several other attacks.
The Metawin incident highlights the need for reinforced security in the cryptocurrency industry. With the rise in hacker attacks, platforms must enhance security to protect user funds.
