Crypto casino Metawin has faced a hacker attack, resulting in the loss of over $4 million. The incident highlights security concerns within the cryptocurrency industry.
Attack Details
According to Metawin CEO Richard Skelhorn, the hacker targeted the platform's withdrawal mechanism, which was designed for swift transactions. The hacker exploited this vulnerability to access hot wallets tied to Ethereum and Solana. Withdrawals were temporarily suspended to prevent further losses, and most users (95%) soon regained access after security enhancements.
Immediate Platform Response and User Impact
In response to the incident, Richard Skelhorn assured users that the Metawin team is working to strengthen platform security. He confirmed contact with authorities and 'internal adjustments' were being made. Skelhorn revealed this in the Metawin Discord community.
Rise in Crypto Security Incidents
The Metawin hack adds to a growing list of crypto security breaches this year. According to CertiK, losses in October from hacks, exit scams, and flash loan attacks amounted to $129.6 million. Stolen assets accounted for the largest share with $127 million, a slight increase from September but significantly less than the $324.7 million lost in May.
The Metawin breach underscores the ongoing need to improve security in the cryptocurrency sector as the number of attacks continues to rise. Other significant incidents include the attack on Radiant Capital and phishing cases.
