Hackers use online casinos as a place to sell stolen millions of dollars
Hackers are using online casinos to sell stolen millions of dollars, according to 404 Media. Some hackers use stolen cryptocurrency to bet at casinos, while others use gambling to wash stolen cryptocurrency. The Stake casino is particularly popular for this purpose, with screenshots showing the cybercriminals' profile balances filled with stolen money. In September, the FBI reported that North Korean hackers were responsible for the theft of over $41 million in assets from Stake.
The young hacker community The Com is a major part of many online crimes, using Stake for SIM swapping, which involves stealing phone numbers and accessing cryptocurrency accounts. To play on Stake, users must verify their ID, but some sellers offer verified accounts or services that do the verification for you.
Cybercriminals also use Stake to make money from bets without doing anything, with VIP accounts offering bonuses ranging from $1 billion to $1 billion. It is unclear how useful Stake and other online casinos are as laundering money now that law enforcement has tools for tracking cryptocurrencies.
The Com, a small online group of mostly young people, has been involved in many well-known cyberattacks in the past two years. Teenagers and young adults under 20 are more likely to carry out high-profile hacks, displaying their skills and bragging about their exploits in racist and sexist language.