Crypto Platform Suffers $4M Hack, CEO Pledges Security Upgrades

According to blockchain investigator ZachXBT, who has been following the case closely, the breach was made possible by an exploit in the "seamless withdrawal system."

Cryptocurrency platform Metawin recently experienced a major security breach of its online wallets on Ethereum and Solana, resulting in losses exceeding $4 million.

ZachXBT reported, that a hacker stole funds from 115 addresses, which were then routed through KuCoin and HitBTC’s linking service, suggesting a sophisticated and deliberate operation.

In response, Metawin initially disabled the withdrawals to protect the platform, but soon re-enabled them. CEO Richard “Skel” Skelhorn informed the community via Discord that authorities had contacted him and assured users of Metawin’s commitment to improvements.

Skelhorn expressed determination to address the losses, stating:

We’re not going to dwell on it.

At the same time, he hinted that he might personally cover some of the lost funds as part of an effort to restore confidence and sustain Metawin’s work.