Stakelogic Suffers Cybersecurity Breach

Leading online casino game developer Stakelogic recently faced a cyberattack after CEO Stephan van den Oetelaar’s email account was compromised. While the company confirmed that no sensitive or confidential information was exposed, the breach continues the trend of high-profile cybercrime operations targeting the gambling sector. The attack comes at a pivotal time for Stakelogic ahead of its acquisition by Sega Sammy.

The Company Took Decisive Action

According to a recent report by EGR Intel, Stakelogic’s legal team confirmed that an unauthorized party accessed CEO Van den Oetelaar’s email inbox, using his account to send out fraudulent emails. These messages impersonated the CEO, potentially leading recipients to believe they received official Stakelogic correspondence.

Despite the unauthorized access, Stakelogic reassured stakeholders that the attackers did not gain access to confidential business information, financial data, or intellectual property. The only data leaked were contact details, including names of business contacts and email addresses. Stakelogic urged partners and clients to be cautious when receiving unexpected emails from the CEO’s account and not to click on any suspicious links or attachments.

Stakelogic takes ownership of this situation and has implemented multiple security measures to prevent this from happening in the future.

Stakelogic statement

The company noted it took swift measures to contain the breach and enhance its security measures to prevent future incidents. These new safeguards include improved email security to prevent more unauthorized access,  stronger authentication measures for executive accounts, and internal cybersecurity audits to assess vulnerabilities.

Cybersecurity Remains a Significant Concern

This newest incident continues the concerning trend of intensifying cyberattacks against the gaming industry that started in 2023’s ransomware attack against high-profile operators MGM Resorts International and Caesars Entertainment. Although the breaches resulted in multimillion-dollar losses, the broader industry has been slow to adapt, leading to continued incidents.

The breach comes during a critical time for Stakelogic as the company is set to be acquired by Japanese gaming giant Sega Sammy Holdings in a €130 million ($141 million) deal. There is no indication that the cyberattack will significantly impact this acquisition. However, it may invite more intense scrutiny of Stakelogic’s security practices by regulatory bodies.

As the gambling sector steadily expands, such incidents are a reminder to all companies in the iGaming space to prioritize cybersecurity and mitigate risks associated with phishing, hacking, and data breaches. Stakelogic set a positive example of how early detection and swift action can be invaluable in protecting sensitive data and maintaining trust.