Crypto casino Metawin loses $4 million to exploit of Ethereum, Solana hot wallets
2024-11-04

An exploiter managed to steal a significant amount of tokens from crypto casino Metawin's Ethereum and Solana hot wallets by exploiting the protocol's "frictionless withdrawal system," Metawin CEO Richard "Skel" Skelhorn announced early on Sunday. 
Blockchain sleuth ZachXBT, alongside Skelhorn, pegged the amount stolen to over $4 million with 115 theft addresses tied to the exploit, implying some level of technical competence on the part of the hacker. "So far the stolen funds have been transferred to Kucoin and a HitBTC nested service," ZachXBT noted. 
While Metawin's withdrawals were temporarily disabled, they've since been re-enabled according to an update from Skelhorn on Discord. Skelhorn also noted that the authorities had been contacted. 
"We’re not gonna dwell on it. It’s in the hands of the feds now and we will make some internal adjustments to keep the players happy but the bad actors at bay," Skelhorn's update states. In an earlier message, Skelhorn implied he covered for the hack with own funds, writing, "I just emptied my piggy bank, we don’t dwell on it. We keep building." 
This is a developing story.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.