Earlier on Sunday, Metawin CEO Richard "Skel" Skelhorn announced that a hacker had managed to get his hands on a significant amount of tokens from Ethereum and Solana hot wallets belonging to cryptocurrency casino Metawin.
The theft was made possible by the protocol's "frictionless withdrawal system." Blockchain expert ZachXBT and Skelhorn estimated that more than $4 million had been stolen, and identified 115 addresses linked to the hack.
The stolen funds have been traced to Kucoin and HitBTC. Although the casino temporarily disabled withdrawals, they have now been re-enabled and Skelhorn has confirmed that the authorities have been informed.
In an update on Discord, Skelhorn stated the incident is now in the hands of the authorities and that they will make the necessary adjustments to keep players happy and avoid future incidents.