- After this week's stake.com exploit, crypto hackers have now banked more than $700 million this year.
- This, and much more in this week’s edition of The Roundup Newsletter.
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Happy Friday!
Adam Morgan here with a digest of the week’s most important crypto stories. Headlines this week reminded investors that crypto still has its flaws.
A major hack was carried out on crypto’s biggest online casino, Stake.com, on Monday. The platform, which rapper Drake endorsed, saw $41 million drained. In 2023, 69 hacks have cost the industry $735 million.
The firm’s CEO told our very own Osato Avan-Nomayo that private keys weren’t compromised in the hack. Edward Craven said the attack was a “sophisticated breach” that targeted a service the company uses to authorise transactions.
On Thursday, Callan Quinn took a deep dive into how Asian crime gangs have turned to pig-butchering crypto scams. Thousands of people are being forced into “coerced digital delinquency” in Southeast Asia, according to a United Nations investigation.
Callan also spoke to Hannah, who became the victim of a pig-butchering scam after meeting a man on a dating app in 2021. After she was cheated out of $80,000, she decided to set up a non-profit group to combat such frauds.
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