Connect with us
European Gaming Congress 2024
in-wake-of-stake.com-hack,-cloudbet-reiterates-importance-of-security-across-industry in-wake-of-stake.com-hack,-cloudbet-reiterates-importance-of-security-across-industry

Latest News

In Wake of Stake.com Hack, Cloudbet Reiterates Importance of Security Across Industry

Published

on

Reading Time: 2 minutes

 

Crypto betting pioneer Cloudbet urges companies across the industry to continue to revisit all protocols in the wake of Stake’s loss of $41M to an apparent hack.

“In many ways, an attack on one is an attack on all, and this industry only thrives if our users know with all possible certainty that their funds are safe and secure,” a Cloudbet spokesperson said. “This incident is a reminder that the industry must continuously put in place the most robust security protocols possible.”

Since its launch in 2013, Cloudbet has been at the forefront of security in the crypto gaming industry. In that time, the operator has securely processed hundreds of millions of transactions, and many of Cloudbet’s security measures have since become standard practice industry-wide.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Cloudbet’s Multi-Layered Security Architecture

Cloudbet security is built on a multi-layer system of safeguards underpinned by hot and cold wallet storage, multi-signature approvals, and multi-party computation (MPC), along with various added measures to protect player funds:

  1. Cold storage of all customer funds.
  2. Multi-party computation (MPC) wallets.
  3. Multi-signature approvals on all fund transactions.
  4. Additional layers of approval and two-factor authentication (2FA) for larger transactions.
  5. Highly secure, physically distributed management of private keys and recovery codes.
  6. Sophisticated circuit-breaker protocols based on real-time reconciliation of withdrawals with product accounts.

In addition, every quarter, Cloudbet conducts internal fire drills to strategize, practice contingency plans, and update those plans to keep ahead of the latest industry security standards.

“While incidents like Stake’s are rare, we must all remain vigilant to maintain the trust that users have been placing in us on a daily basis for the last 10 years,” the Cloudbet spokesperson said.

“We are firm believers that crypto is pioneering an exciting new world of financial freedom, and that gaming and betting can help lead that effort. But we also believe that in order for us to realize that world, we have to put security at the front line of crypto. No matter how flashy and glamorous the Premier League is, players aren’t safe to play without some very serious on-field security.”

Latest News

Gate.io and AWS’s ‘Gateway to Championships’ Brings Blockchain to the Forefront with FC Internazionale Milano Partnership

Published

on

gate.io-and-aws’s-‘gateway-to-championships’-brings-blockchain-to-the-forefront-with-fc-internazionale-milano-partnership
Reading Time: 3 minutes

The event also brought together industry leaders, sports icons, and blockchain innovators for an evening that not only celebrated technological advancements but also paved the way for a historic and transformative partnership in blockchain and sports.

Panel discussions, moderated by Kristen Lim, Co-Founder and CEO of Rockrose, explored the profound impacts of blockchain technology on the global market. Thought leaders provided insights into the evolving landscape of Web3 and contributed their expertise, highlighting the transformative potential of blockchain across various sectors. Together, they examined key trends, challenges, and opportunities shaping the future of Web3.

VIP Dinner, Networking, and Celebrations

The event concluded with a VIP dinner and networking session, where attendees connected with industry and sports luminaries against the backdrop of a live DJ, creating an atmosphere of celebration and collaboration.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

SOCCER2050: From On-Chain to On-Pitch

Additionally, Gate.io organized SOCCER2050, a separate football match highlighting its commitment to the sport and the community. The event was co-hosted with LTP on September 17 in Singapore, where several teams faced off in friendly football matches following a ribbon-cutting ceremony with Dr. Lin Han and representatives from LTP, Huawei Cloud, and Zodia Custody. This event further cemented Gate.io’s presence in the football world, fostering camaraderie and engagement among participants.

 

Disclaimer

This is a private event for professional knowledge sharing and networking purpose only. You should always seek independent professional advice before making any investment decisions. The products and/or services mentioned herein are only available to persons outside Singapore. Please be noted that Gate Group may restrict or prohibit the use of all or a portion of the Services from restricted locations. For more information, please read the applicable user agreements.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

The post Gate.io and AWS’s ‘Gateway to Championships’ Brings Blockchain to the Forefront with FC Internazionale Milano Partnership appeared first on European Gaming Industry News.

Continue Reading

Aristocrat Gaming

Record Progressive Jackpot at Over $2 Million and Climbing Up for Grabs at Seminole Hard Rock Hotel & Casino Hollywood

Published

on

record-progressive-jackpot-at-over-$2-million-and-climbing-up-for-grabs-at-seminole-hard-rock-hotel-&-casino-hollywood

 

A record progressive jackpot of more than $2 million continues to climb on a $1 million Dragon Link slot machine by Aristocrat Gaming. The huge jackpot is up for grabs at Seminole Hard Rock Hotel & Casino Hollywood.

The $1 denomination Dragon Link slot is a single-site progressive (SSP) and is located in the high-limit slots area of the Hollywood casino, famous through the world for its iconic Guitar Hotel. The slot machine’s progressive jackpot increases independently from other Dragon Link slots at the Seminole Hard Rock Hotel & Casino Hollywood and elsewhere.

The jackpot is climbing by an average of $7,000 per day and is on track to become one of the largest slot machine payouts in Seminole Gaming history and the largest Dragon Link jackpot ever awarded. Players at Seminole Hard Rock Hollywood have a chance to be a part of jackpot history.

“It’s exciting to witness the Dragon Link jackpot grow to an unprecedented amount. The game has been a favorite since its release, and with this amazing prize now up for grabs, our players have the potential for a huge win,” said David Hoenemeyer, Chief Operating Officer of Seminole Gaming.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“We are incredibly proud of the fanfare Dragon Link has amassed over the years, and this historic milestone reinforces player excitement for the brand. The Seminole Hard Rock Hollywood team have been incredible partners and huge supporters of our $1 million Dragon Link offering. We can’t wait to be a part of the celebration of this record-breaking jackpot,” said Kurt Gissane, Chief Revenue Officer for Aristocrat Gaming.

Since its debut at Seminole Hard Rock Hollywood in June 2021, Dragon Link has consistently drawn in players with its exciting high-denomination offering, which includes a $25 minimum bet and a $2,500 max bet. The casino-resort was the first in the world to feature the $1 million Dragon Link progressive, and today, it remains one of the most popular high-limit slot games available.

The impact of Dragon Link on the gaming landscape has been immense, cementing its status as a player favorite. While Aristocrat Gaming continues to push boundaries with innovative offerings, the latest jackpot at Seminole Hard Rock Hollywood represents a new milestone in gaming entertainment.

Continue Reading

Chris Chapman

Xpoint Appoints Chris Chapman as CTO and Rahul Agrawal as VP of Engineering

Published

on

xpoint-appoints-chris-chapman-as-cto-and-rahul-agrawal-as-vp-of-engineering

 

Xpoint has announced two key appointments as it strengthens its leadership team.

Chris Chapman has been promoted to Chief Technology Officer and Rahul Agrawal has joined as VP of Engineering.

Chapman previously served as VP of Engineering at Xpoint and has been pivotal in leading the company’s engineering efforts, advancing its geolocation technology and ensuring the platform’s reliability and scalability. Prior to joining Xpoint, he held senior leadership positions at companies such as Sourcepoint, Integral Ad Science and Amino Payments, which he founded. In his new role, he will focus on driving innovation and ensuring that Xpoint remains at the forefront of geolocation and compliance solutions in the iGaming sector.

Agrawal brings over 25 years of experience in technology leadership, most recently serving as VP of Technology at PointsBet, where he advanced the development of the sportsbook and casino platform, built a global engineering team and integrated multiple technology partners, including geolocation providers.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

His extensive background also includes being CTO at FaceOff and senior technology roles at Jump Ramp Games and High 5 Games. He will lead the Xpoint engineering team, focusing on operational excellence and the continued development of the supplier’s geolocation technology.

Manu Gambhir, CEO of Xpoint, said: “We are excited to promote Chris to CTO and welcome Rahul as our VP of Engineering.

“Chris has been an integral part of Xpoint’s success and his promotion to CTO is a natural progression as we continue to evolve. Rahul’s extensive experience in building and scaling technology platforms will complement Chris’s leadership and together, their expertise will drive the next phase of innovation for Xpoint as we continue to lead the geolocation and compliance space in the iGaming industry.”

Continue Reading

Trending