Stake.com
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anchored·4Gh8pS…1hFZSummary
Stake.com is a Curacao-licensed cryptocurrency casino and sports betting platform co-founded in 2017 by Ed Craven and Bijan Tehrani and operated by Medium Rare N.V., with reported 2024 revenue of about $4.7 billion. In September 2023 roughly $41 million was drained from its hot wallets across Ethereum, BNB Smart Chain and Polygon, a theft the FBI attributed to North Korea's Lazarus Group (APT38) within about 48 hours. The platform and its affiliates face regulatory and legal pressure in several jurisdictions, including a UK Gambling Commission fine and market exit, a 2025 civil suit by the Los Angeles City Attorney against Stake.us, multiple US class actions, and alleged AML weaknesses.
Connected Entities
12 entities · 60 linked investigations- Stake.com→mentioned with→ZachXBT(60%)
- Stake.com→mentioned with→Binance(60%)
- Ethereum→mentioned with→Bitcoin(60%)
- Stake.com→mentioned with→Avalanche(70%)
- Stake.com→mentioned with→Bitcoin(80%)
- Stake.com→mentioned with→Polygon(70%)
- Stake.com→mentioned with→Ethereum(70%)
- Stake.com→mentioned with→Litecoin(60%)
- Stake.com→mentioned with→ChipMixer(60%)
- Litecoin→mentioned with→Bitcoin(70%)
- + 26 more
Timeline(18 events)
2016
Craven and Tehrani found Easygo, an online casino games studio and corporate precursor to Stake.com.
Wikipedia: Ed CravenAugust 2017
Stake.com launches as a crypto casino and sportsbook under a Curacao license, operated by Medium Rare N.V.
Wikipedia: Stake (online casino)October 2022
Twitch bans Stake.com from advertising on its platform, citing lack of consumer protections.
kotaku.com2023
Stake co-founders launch the Kick streaming platform as a Twitch competitor.
Wikipedia: Kick (service)April 2023
UK Gambling Commission fines TGP Europe (Stake's UK operator) £316,250 for AML and social responsibility failures.
igamingbusiness.comSeptember 2023
About $41 million (Beosin: $41.35 million) is drained from Stake.com hot wallets on Ethereum, BNB Smart Chain and Polygon; the breach is detected internally within about 20 minutes.
hacken.ioSeptember 2023
Stake restores deposits and withdrawals about five hours after the breach; Ed Craven states user funds are safe.
cointelegraph.comSeptember 2023
FBI attributes the theft to North Korea's Lazarus Group (APT38) and publishes associated blockchain addresses.
fbi.govSeptember 2023
TRM Labs publishes on-chain analysis corroborating the FBI attribution and documenting multi-chain laundering consistent with Lazarus Group techniques.
trmlabs.comSeptember 2023
Ed Craven publishes post-incident reflections on Medium, stating private keys were not directly compromised and that Stake absorbed the loss.
Ed Craven (Medium)2024
DOJ civil forfeiture complaint names Stake.com as a platform through which SIM-swap-derived stolen Bitcoin was allegedly laundered via circular transactions.
justice.govDecember 2024
Curacao's National Ordinance on Games of Chance (LOK) enters into force, introducing direct Curacao Gaming Authority licensing and supervision.
coincub.comFebruary 2025
Stake announces its exit from the UK market amid a Gambling Commission investigation; UK operations to cease March 11, 2025.
gamblingcommission.gov.ukAugust 2025
Los Angeles City Attorney files a civil complaint against Stake.us, Easygo, Medium Rare, Kick, Ed Craven, Bijan Tehrani and game suppliers for alleged illegal gambling in California.
cityattorney.lacity.govOctober 2025
Class action filed in Missouri naming Stake.us, Drake and Adin Ross for alleged deceptive gambling promotion.
kctv5.comDecember 2025
Class action filed in Virginia federal court against Stake.us, Drake and Adin Ross alleging illegal online gambling.
quicktakes.loeb.comApril 2026
Harvard Journal of Sports and Entertainment Law publishes an analysis of the Stake class action litigation.
journals.law.harvard.eduDecision Log
- slot 423217253 · hash 5hHi3TbHdsBsJS4gjK4feVsKQRoxe6dm5WtE57tAtM2q
This investigation is cryptographically anchored to the Solana blockchain (1 decision). 39 of 41 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 5/30/2026, 7:10:38 PM
last updated: 10/2/2026, 5:27:55 AM
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