Cryptocurrency platform Metawin fell victim to a major security breach involving Ethereum and Solana hot wallets, resulting in a loss of over $4 million.
The security breach was made possible by the exploitation of Metawin’s “seamless withdrawal system,” CEO Richard “Skel” Skelhorn said today.
Blockchain analyst ZachXBT, who has been tracking the incident, confirmed the estimated losses and identified 115 stolen addresses linked to the attack, indicating a sophisticated operation by the hacker. “So far, the stolen funds have been transferred to KuCoin and a HitBTC interconnect service,” ZachXBT said.
Following the security breach, Metawin temporarily disabled withdrawal services as a precautionary measure. However, Skelhorn later notified the community via Discord that withdrawals had been re-enabled and assured users that authorities had been notified:
“We won't dwell on it. Everything is now in the hands of federal authorities, and we will make internal arrangements to keep players happy and keep bad actors away.”
“I emptied my piggy bank, we're not dwelling on it. We're continuing to improve,” Skelhorn said in a separate message, hinting that he was personally recouping the lost funds.
*This is not investment advice.
