Metawin Hit by $4M Hack - My Analysis

[FredJefferson87]

Just got word about massive hack at Metawin. Here's what we know:

• $4M stolen through hot wallet exploit
• Hacker used frictionless withdrawal system
• Funds traced to KuCoin and HitBTC
• ZachXBT tracked 115+ associated addresses
• Almost all withdrawals already restored

Sources: Cointelegraph

As someone affected, I'll keep this thread updated with developments.

 

[CiViP]

This is huge... using their frictionless withdrawal system is clever but sending to CEX is amateur hour. Anyone know if the funds on KuCoin got frozen yet?

 

[BillThornes]

Key points to consider:

Hot wallet compromise, not game systems
Rapid response team in place
Withdrawal systems already restored
CEX tracking possible through KYC
Pretty solid crisis management overall.

 

[p@yd@y]

imagine being smart enough to hack them but dumb enough to send to KuCoin

 

[Thomas.com]

Been in crypto gambling since 2020 - interesting how they recovered faster than Stake did after their $41M hack last year. Their team must've been ready for this kind of scenario.

 

[FredJefferson87]

Update: Support confirmed my withdrawal should process within 24hrs. They're prioritizing smaller amounts first.

 

[GamblelapA]

@Thomas.com probably because funds went to KuCoin which requires full KYC since August - much easier to track/freeze than if they went to DEX

 

[j@[email protected]]

anyone know if this affected their Web3 wallet withdrawal limits? was about to move some funds...