On November 3, crypto casino platform Metawin fell victim to a major hack, losing $4 million across its Ethereum and Solana hot wallets. The breach, flagged by blockchain analyst ZachXBT, revealed that funds were transferred to KuCoin and a HitBTC nested service. CEO Richard Skelhorn confirmed the attacker exploited the platform’s “frictionless withdrawal system” and that Metawin temporarily paused withdrawals to secure the platform.
Skelhorn reassured users in a Discord message, stating, “Withdrawals have been re-enabled for 95% of users, with final checks underway for the remaining accounts.” Additionally, he reported that Metawin has begun replenishing wallet balances and will implement enhanced security controls for new users to maintain a seamless experience for its community.
ZachXBT linked the attack to over 115 addresses tied to the exploit, although the hacker’s identity and motive remain unclear. Reflecting on the attack, Skelhorn stated, “We’re learning from it and will emerge stronger,” emphasizing that the platform will undergo “internal adjustments” to bolster security.
Crypto Hacks Escalate Losses to Over $129 Million in October
Metawin’s hack is the latest in a series of high-profile breaches across decentralized finance (DeFi). According to blockchain security firm CertiK, the cumulative loss from DeFi scams and hacks hit $129.6 million in October alone. Flash loan attacks accounted for $1.5 million of these losses, while exit scams led to $1.2 million in damages.
Other notable incidents include the October 16 exploit of Radiant Capital, which resulted in $50 million in losses after attackers gained control of key protocol permissions. Additionally, a widespread phishing attack on October 30 targeted multiple decentralized applications by compromising the widely-used Lottie Player animation library.
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