Disruption In The Gambling Industry Your Opinion

[Tipstar]

Even if it's not Stake the top casino in the industry can survive the hacking, they are not the top casino if they do not know that storing all their funds in one wallet is a big risk, if you're a big name in the industry you have diversified businesses portfolio so in case of failure from one venture they can still keep up because of the other ventures I'm sure they have something like emergency funds not really they expect hacking but on unforeseeable scenario.

In the case of Stake, I was worried but after seeing that they could manage I had a sigh of relief my only prayer is for them to recover the lost funds.
Stake, has proven why they are the leader in the industry.

Hacking is the common one in the crypto based industry,Since the Stake is the top casino in this world.So the hackers had try to hack the Stake casino.Luckily Stake had recovered the remaining wallet.Only ETH/BSC hot wallet was hacked and Stake made an official statement worth f 40 million dollars.The good point is the hacker not hacked the btc wallet of Stake.Because most of the casino including the Stake will had their most of the holding in the Stake.Even though hack happened in the Stake,the Stake had recovered the other wallet will be the good news.

Being a gambler,I will pray for Stake to recover their all funds.Even though they can manage the loss,I wish them to recover the remaining loss.The short recovery proved their leadership in the industries.It was the speedy recovery with my knowledge in the crypto field.

Stake surely is a large casino with large volume deposited and withdrawn everyday. But 40 million USD in hot wallet still seems to be a large amount to put on hot wallets. As hot wallet are made with intention of quick access, it naturally is less secured than cold wallets, yet it doesn't mean every hot wallets are susceptible to hacks.
The good thing is it's stake.com and the loss are comparatively small. They could spare it from their profit and still be able to run. It would make them realize of their mistake and they'd work better to keep the funds safe in the future and the specific way of attack would be exposed for the rest of the industry to learn from.

[coin-investor]

as we have seen, not being biased here. stake continues their operations as usual. but if that hacking happened in a small casino, for sure, the site will be down or gone already. now that stake experienced such hacking, i believe, other gambling sites are already taking security precautions because they know, such huge amount of losses is absolutely not good for their business.

I'm thankful that the operation continues as usual they have to retain their player's trust but this is a big warning to the community that they need to beef up their security now that, hackers are now targetting casinos and they are merciless and will target even small casinos.

I'm still waiting for news about the funds Hopefully they can recover Hopefully we'll have some big news in the coming days, I have this feeling that Stake players will grow more because they are now confident that their funds and accounts are safe and Stake is one Casino that they can rely on.

[Hispo]

This comes with using centralized stuff on the cryptocurrency world, be it exchanges or casinos in this case, which drives the "not your keys, not your coins" statement even further. In any case, I don't think this is going to cause massive waves in the crypto world as big as Stake is. Casinos are just a percentage of the whole industry and since it's a niche hobby the ones who are truly affected by this are just those that gamble. This will definitely cause some massive changes in the gambling industry paradigms though, the fact that such hackings prove that no hot wallet is safe if it's centralized, may inspire/encourage people to use their own wallets and only transact in exact amounts which is actually good.

Though, there is an clear advantage on hot wallets when comes to massive services which need to carter high volumes of Bitcoin. It is easier to make all automatically for small withdrawvals with relatively low risks; only big movements are managed by human beings and using cold wallets. You know, when whales decide to get their money off their favorite casino.

Also, concerning the centralized services, there is no a problem with them as they are careful enough to invest in their own security; I am also pro decentralization, but I doubt we will see a decentralized casino at the same level of Stake in the short term.

[Eternad]

I'm still waiting for news about the funds Hopefully they can recover Hopefully we'll have some big news in the coming days, I have this feeling that Stake players will grow more because they are now confident that their funds and accounts are safe and Stake is one Casino that they can rely on.

I will not be surprised if there will be a new mixer that will exist for USDT currency since this is the only way for hacker to get away completely with the hack. Stake doesn’t have any announcement which means they are still tracking the funds. The funds is visible on the Blockchain that means Stake doesn’t have a choice than wait for the hacker make a wrong move to reveal their identity.

Stake operation is not interrupted at all and that is the most important thing to be considered above all what happened.

[Huppercase]

$40 million is probably a peanut for Stake since they reportedly to pay Drake $100 million per year: https://blockworks.co/news/crypto-casino-stake-revenue

As long as users' funds aren't affected, users will continue to play there. I also didn't notice the event, it seems like business as usual. IIRC I played almost every day in the last week but everything seems fine. Not sure whether or not it's because I used non-ETH coins... So yeah, one hot wallet hacked means the owner gets less money to spend, but it won't affect the business.

Was this not the same drake that was reportedly been broke due to his addiction to gambling or it's just a media thing for click bait. If stake has such amount to pay such influencer annually, with this I don't there is a concern for the $41m that was stolen but, this money is huge to let's go. That's a whooping amount that some companies make in 5 years only to be stolen by some people thieves, that's too much to me, even if they have enough, they wouldn't let this slide because you don't know which will be next. The hackers may come back if they don't investigate about the hack.

No way users will not be affected, the money stolen was from a hot wallet which means is the part of the money which players deposit and withdraw but it is possible that they have more of that in cold wallet some where hidden from the public, it will be a shame for them to let people have access to all their funds when they understood the risk involved in leaving funds on the internet.