Crypto casino gets hacked - are you still expecting a refund?

[Ziskinberg]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

And waiting for a third party to help? Yeah, sure. I’ve seen that with exchanges, but with gamblers? Nope. Not once.

So if you’re betting on a refund, you might as well bet on winning the jackpot too -- same odds ^{(correct me if im wrong)}, I guess..

[cryptoaddictchie]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

I think every casino should have a funds backed in case they experience some sort of hack or got compromised. Its not good to see a gambling casino platform to be breach like that. The company should focus on security too and not just for profit. Its important to see the all those flaws even before they open it up to avoid users getting hampered or affected with it.

[Sanitough]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

I think every casino should have a funds backed in case they experience some sort of hack or got compromised. Its not good to see a gambling casino platform to be breach like that. The company should focus on security too and not just for profit. Its important to see the all those flaws even before they open it up to avoid users getting hampered or affected with it.

It’s nice if a casino has backup funds… but what if they don’t, and they just vanish into thin air?

I stick to licensed casinos, but realistically, if a hack happens and it’s proven legit, I’m not holding my breath for a payout. Unless there’s such a thing as “casino insurance” (which I highly doubt), you’re out of luck. Banks have that, but casinos? they don't...

At that point, you just move on. It’s not like you’re the only one who lost money, the casino probably bled a fortune too.
The difference is, they can just shut the doors. Sad, but that’s the game.

[MAAManda]

I wouldn't expect a refund unless it was a big name, because even if they had good intentions to refund their users, if they don't have the money, how would they make a refund? with paper & leaf? that's impossible. Luckily, during my gambling sessions, I've never encountered any cases of hacking on the platforms I play on.

[peter0425]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

I wouldn't bet on it (ha!) but I would still hope that my money gets returned anyway. This is a reason why we should not use gambling platforms as a place to hold our money in. Because of things like this.

And waiting for a third party to help? Yeah, sure. I’ve seen that with exchanges, but with gamblers? Nope. Not once.

So if you’re betting on a refund, you might as well bet on winning the jackpot too -- same odds ^{(correct me if im wrong)}, I guess..

Unless the gambling platform is registered and acknowledged by the government, you would not really expect anyone for them to help. So these are the risks you just have to consider if you want to use a platform such as this.

[Free Market Capitalist]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

And waiting for a third party to help? Yeah, sure. I’ve seen that with exchanges, but with gamblers? Nope. Not once.

So if you’re betting on a refund, you might as well bet on winning the jackpot too -- same odds ^{(correct me if im wrong)}, I guess..

Man, if it's a crappy casino, I wouldn't expect it, but I wouldn't play at them to begin with. Good casinos divide their funds into cold and hot wallets, and only the hot wallets are at risk. They also take security measures, but in cases like the ones you mention, if they lose all or part of what is in the hot wallets due to a hack, they simply have to accept the loss, which is only a small part of the total, and continue with business as usual to compensate for that loss with future profits.

[joeperry]

for a new gambling site or a gambling site that doesn't' have deep bankroll, they would definitely goes bankrupt and shouldn't expect for a refund. I'm not sure but some of the gambling sites might use this as an excuse to for their exit scam while some literally just gets hacked. I was wondering if gambling sites owners do have an insurance for instances like this and what are their steps to avoid this kind of scenario.

This is what I'm scared of especially using of new gambling sites or small gambling sites.

[Ziskinberg]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

And waiting for a third party to help? Yeah, sure. I’ve seen that with exchanges, but with gamblers? Nope. Not once.

So if you’re betting on a refund, you might as well bet on winning the jackpot too -- same odds ^{(correct me if im wrong)}, I guess..

Man, if it's a crappy casino, I wouldn't expect it, but I wouldn't play at them to begin with. Good casinos divide their funds into cold and hot wallets, and only the hot wallets are at risk. They also take security measures, but in cases like the ones you mention, if they lose all or part of what is in the hot wallets due to a hack, they simply have to accept the loss, which is only a small part of the total, and continue with business as usual to compensate for that loss with future profits.

Let’s say you’re playing in a reputable casino, one of the big names i had mentioned. Now imagine they get hacked… and decide not to refund anyone, for whatever reason. Who’s gonna help you then? Still expecting a refund? Maybe not from them, but from whoever’s overseeing them, the same people who are supposed to step in if the casino goes bankrupt.

[BABY SHOES]

for a new gambling site or a gambling site that doesn't' have deep bankroll, they would definitely goes bankrupt and shouldn't expect for a refund. I'm not sure but some of the gambling sites might use this as an excuse to for their exit scam while some literally just gets hacked. I was wondering if gambling sites owners do have an insurance for instances like this and what are their steps to avoid this kind of scenario.

This is what I'm scared of especially using of new gambling sites or small gambling sites.

New casinos usually don't have large reserves, so even if their casinos are hacked on a large scale, how could they possibly be able to return the funds to their customers? They would declare bankruptcy.

I don't know if casino owners have insurance for their business... this is never disclosed, but if the casino is large they have ample reserves, so even if hacked it wouldn't be a major issue the casino could continue operations, and only the owner might incur losses.

The bottom line is: don't keep your money in a casino it's not recommended.

[Dave1]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

And waiting for a third party to help? Yeah, sure. I’ve seen that with exchanges, but with gamblers? Nope. Not once.

So if you’re betting on a refund, you might as well bet on winning the jackpot too -- same odds ^{(correct me if im wrong)}, I guess..

I'm under the impression that casinos have deep pockets, so in any case that something bad to them, they still have the funds to recover. And as you have said, there are cases like the Metawin incident and yet they were still standing today and as if nothing has chance. However, as gamblers do we really leave huge funds on the casino like in crypto exchange? As per my experience, once I win big then I will immediately withdraw my winnings.

So in case of hack, then you won't be the victim. Unless you have won your bet and you wasn't able to withdraw on time. I guess it's 50/50 if the casino can refund you or the casino will totally shutdown and with that, it's a big loss to them.

[SmartGold01]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

And waiting for a third party to help? Yeah, sure. I’ve seen that with exchanges, but with gamblers? Nope. Not once.

So if you’re betting on a refund, you might as well bet on winning the jackpot too -- same odds ^{(correct me if im wrong)}, I guess..

I don't know of other casinos but metawin.com and stake.com has grown to that level of withstanding any pressure irrespective of anything that was why they replaced everyone that loses their funds when hacked, in fact it wasn't as if they were hacked because of how they have grown so big as well, that is why I must recommend people to only gamble on reputable casino such the above mentioned sites because while gambling there it's assumed if there are any break down, hack or whatever users wouldn't get panicked as their fund could be refunded back. I hardly gambles on non reputable casinos because they can't afford to pay back whenever there is any hack or issues arise.

[Charles-Tim]

I wouldn't expect a refund unless it was a big name, because even if they had good intentions to refund their users, if they don't have the money, how would they make a refund? with paper & leaf? that's impossible. Luckily, during my gambling sessions, I've never encountered any cases of hacking on the platforms I play on.

Metawin was not that a big gambling site when it was hacked but it was growing at fast rate at the time. No customers lost money due to the hack. A good gambling site will have enough money to pay their customers after hack. That is how a good gambling site should operate. It also happened to Stake. Stake was able to pay their customers and continue operating. Although, Stake is a big gambling site.

[sunsilk]

I guess that's the problem why the new small casinos don't get the trust from the community asap. It's because that we know that they lack of funding and with such disasters and hacking, they might not able to recover and give a refund.

So with the concept from the exchanges of having a proof of reserve. They should also have it to show to the community or potential customers just to get a head start and get trusted from the beginning.

If a small casino gets hacked and they'd say that there's no refund, a fault might also be in the gambler for choosing and trying to give them a trust that ends up as a regret.

[avp2306]

I wouldn't expect a refund unless it was a big name, because even if they had good intentions to refund their users, if they don't have the money, how would they make a refund? with paper & leaf? that's impossible. Luckily, during my gambling sessions, I've never encountered any cases of hacking on the platforms I play on.

Metawin was not that a big gambling site when it was hacked but it was growing at fast rate at the time. No customers lost money due to the hack. A good gambling site will have enough money to pay their customers after hack. That is how a good gambling site should operate. It also happened to Stake. Stake was able to pay their customers and continue operating. Although, Stake is a big gambling site.

Yeah they are just starting up before and imagine that they able to afford paying those amount what they lose from hacking incident happened to their casino.

Now Metawin is growing fast and it became one of trusted casino in this forum and also outside of this platform. We could see how people been happy with those offers they release to their community.

If they want to know what's latest promotion they have they better go here and check for updates https://x.com/Meta_Winners

Same with stake they able to do that to that's why its important for gambler to play on reputable casino so that they can look forward for refunds if hacking incident will happen. Since if it happens on other small casino there's good chance that their platform will collapsed and they won't get anything from the casino owners.

[Orpichukwu]

But casinos are supposed to be insured for cases like this since it's something that requires users' deposits during licensing. These are things that could have been considered to make sure there is some reserve somewhere by the casino, which could be used to cover up customers' debt if anything like a hack occurs.

This is why it's safer, even when it's not entirely safe, to only gamble and trust casinos which have made a name over the years and are up to standard in terms of finances with a lot of backup from external investors, which such a situation will only cost the casino and not the customers.

[ozgr]

I haven't heard of any hacked casino sites and the ones that are claimed to be hacked seem fake to me.
Exchanges get hacked more often because the system is completely different and based on finance.
Casinos already secure their funds, so this doesn’t really make sense to me.

Some casinos pay interest in exchange for their coins, so we keep them on the site for a long time.
These sites can be a bit worrying.

[lovesmayfamilis]

In case of unexpected hacks, casinos need to upgrade their sites in every possible way at a fairly regular interval. Somewhere on the Internet, I saw stories where site owners offered good payment to so-called "white-hat hackers" if they could hack their sites; thus, they regularly upgraded their equipment. Surely, every new casino does not pass by the eyes of hackers who want to profit, so rushing to open a business is quite risky until the owners check every little thing to avoid unpleasant surprises in the future.

[Yaunfitda]

Big names like Metawin and Stake survived hacks before, and players got lucky their funds were safe. But if it’s some random casino with no deep pockets? Good luck. Inside job, outside job… either way, don’t expect them to hand your money back out of kindness.

And waiting for a third party to help? Yeah, sure. I’ve seen that with exchanges, but with gamblers? Nope. Not once.

So if you’re betting on a refund, you might as well bet on winning the jackpot too -- same odds ^{(correct me if im wrong)}, I guess..

I think the odds are different for a refund or winning a jackpot. I mean there could still be chances that you will be refunded in case a certain casino gets hacked. There are casinos that have reputation and so if something happened for the worst then they will have to cover it.  The thing is that there are no clear cut regulations in hack casinos. It's in the gray area whether they are liable for losses. And in severe cases, casinos that might have been hack can lose their license. And as a business entity you don't want that to happen to you because you can recover. And it could be a life long lessons for casinos that have been hack as they will have to invest heavily on security measure so that it won't happen again.

[danherbias07]

OP seems to have had a bad experience recently. I hope it's not as bad as losing a month's salary.

Anyway, you are right. I believe we should not expect anything from a third-rate online casino when they suddenly just decide to disappear into thin air. This is why choosing a reputable gambling site is crucial to gamblers, especially those who will be pursuing big wins by depositing large amounts.
It must be something that many people trust, so that we can pursue a refund when something goes wrong. I've seen bad things happen, just like losing the balance, but later on, it was fixed. The gambling site still gave freebies to the gamblers as an apology prize.

[Agbamoni]

I wont be in that situation because once I am done gambling for the day, I quickly withraw my money back to my bank account. I think times without numbers it has been discussed that it is wrong to keep our funds in the casino when we are not gambling.

Keeping your money in the casino will propel you to gamble again, even when you did not plan to. And again, it can expose you to hack and theft. So whatever happens, the casino is not to be blamed but you are.