Crypto Casino MetaWin Suffers $4M Hack, CEO Confirms Security Breach
A new HBO documentary claims to unveil the identity behind Bitcoin's mysterious creator, Satoshi Nakamoto. This development adds to the ongoing intrigue surrounding the cryptocurrency pioneer who launched Bitcoin and subsequently disappeared.
DraftKings recently announced the closure of its NFT marketplace and the discontinuation of its Reignmakers program amid mounting legal challenges. The company faces an NFT securities lawsuit, with a judge ruling that the Howey Test applies in this case.
In significant cryptocurrency crime news, Finnish authorities have detained a British national for hacking online casinos and stealing approximately $900,000. Additionally, a former Deutsche Bank associate received a prison sentence for orchestrating a $1.5 million cryptocurrency scam.
The cryptocurrency gaming sector continues to face security challenges. MetaWin, a crypto-based online casino, recently lost $4 million in a hack, as confirmed by their CEO. Similarly, Stake.com suffered a $40 million hack, which the FBI has attributed to North Korea's infamous Lazarus Group.
In the sports betting arena, blockchain-based exchange BetDEX has launched operations in Ireland. Meanwhile, Formula One team Sauber will operate under dual branding ("Stake" or "Kick") to navigate various gambling regulations across different jurisdictions.
Notable developments in the regulatory landscape include UK lawmakers pushing for the Gambling Commission to oversee cryptocurrency operations. This comes as various platforms face scrutiny, including a Canadian crypto platform accused of fraudulently directing client funds to online casinos.
The cryptocurrency gaming industry also saw positive developments, with MyPrize crypto casino securing $13 million in funding, elevating its enterprise value to $140 million. However, the sector continues to face challenges, as evidenced by a recent $31 million hack of a cryptocurrency payments platform affecting multiple gaming operators.
A notable legal case concluded with the dismissal of a $580 million lawsuit against Stake.com, where the plaintiff had alleged idea theft. Meanwhile, DraftKings CEO has expressed interest in accepting cryptocurrency, though state regulations continue to pose challenges to this initiative.