Hackers Use Online Casinos to Gamble Mountains of Cash They Steal from Victims

Members of the wider digital underground, known as The Com, often funnel stolen Bitcoin into a variety of online casinos including Stake, material obtained by 404 Media shows.
A screenshot of a virtual game of blackjack.
Image: 404 Media.

Hackers are using online casinos, including the gambling giant Stake, to multiply and attempt to launder their ill-gotten gains, according to account balances, chat logs, and other screenshots obtained by 404 Media. Some people in this wider underground community have accounts worth hundreds of thousands of dollars and have won tens of thousands, according to some of those screenshots.

The news provides insight into what some hackers actually end up doing with cryptocurrency they have stolen, with some people flexing their winnings (or lamenting their losses) in the screenshots. To a lesser extent, the material also shows the potential use of gambling as a cleaning mechanism for the hackers’ stolen cryptocurrency, as risky as that might be. 

“You win $60,000,” one screenshot of an online blackjack game shared in a hacking community group chat reads. The player’s balance is shown as more than $360,000. Another screenshot from someone logged into Stake appears to show a balance of more than $110,000 in Ethereum.