Newsazenplay.comCrypto casino and sportsbook Gamdom reported a hot-wallet breach on October 13 that caused losses of more than $3 million. Blockchain analysis cited in the report estimated the total losses at approximately $4.2 million, and the platform shut down while moving remaining assets to cold storage.
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Faster withdrawals can reduce the time operators and payment partners have to detect stolen cards, mule accounts, bonus abuse and forged identity documents. Payment processors, card networks, open-banking firms and banks may also face chargebacks and complaints when funds are sent to the wrong…
Five people were sentenced to prison for a scheme that stole more than $750,000 from a company providing cash-access services to casinos and online sports-betting operators. The case was announced by the U.S. Attorney’s Office.
A report identified account takeovers, bonus abuse and distributed denial-of-service attacks as key threats to online-casino platforms. It described fake-account networks exploiting promotions and traffic floods disrupting casino services.