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Duelbits Suspends Operations Following $7 Million Hack
Duelbits, a crypto casino and sports betting platform licensed in Curacao, has halted its operations after a significant security breach that resulted in the theft of approximately $7 million from its hot wallets. The incident, which occurred on September 24, marks the second major hack the platform has experienced in about two years.
Initial estimates of the losses were around $4.2 million, but further investigations revealed that the total damage included assets from multiple blockchain networks, including Ethereum, BNB Chain, and Tron. The stolen assets comprised 836 ETH, 1.62 million USDT, 97,000 USDC, 209 BNB, and 192,000 TRX, among others. The breach is believed to have stemmed from a private key leak associated with the platform's hot wallets, with funds quickly laundered through cross-chain bridges and swaps.
This incident follows a similar breach in February 2024, where Duelbits lost approximately $4.6 million. A co-founder of the platform has assured users that their funds remain secure, as Duelbits maintains a separation between operational hot wallets and user reserves stored in cold wallets. The platform plans to replenish its hot wallets and relaunch, but it will need to implement improved key management practices to regain user trust after two significant breaches totaling around $11.6 million.
Source: KLEA News