Curaçao Gambling Leak Exposes Owners Behind Hundreds of Offshore Casinos
Expertise: US Gaming, European Gaming Industry, iGaming
WILLEMSTAD, Curaçao – A breach of the Curaçao Gaming Authority’s licensing portal has exposed ownership and financial records tied to hundreds of gambling companies.
The leaked files are now raising questions about how the regulator assessed ownership structures and unresolved compliance concerns before granting some online gambling licenses.
Berlin-based security researcher Lilith Wittmann said Sept. 22 that she and collaborators maintained unauthorized access to the CGA’s internal systems for about nine months. Dutch investigative outlet Follow the Money subsequently analyzed material obtained through the breach as part of its Casino Secrets investigation.
Leak Identifies Hundreds of Gambling Company Owners
Follow the Money’s investigation said the files contained licensing applications, regulatory assessments, passports, tax returns and financial information. Its analysis identified about 800 owners linked to nearly 650 licensed gambling companies operating thousands of websites.
The investigation verified 897 ultimate beneficial ownership records involving 767 individuals across 646 entities. FTM said the documents provided information that was previously difficult to establish through public corporate records, including the people and trust offices associated with Curaçao-licensed operators.
Wittmann reportedly gained initial portal access by registering under the name of a trust-office manager already known to the regulator while using her own Gmail address and a fictitious entity called DreamCatcher Private Foundation. FTM reported that she later uploaded software that provided wider access to the licensing system.
The Curaçao Gaming Authority acknowledged unauthorized access on Sept. 17, saying the breach had been contained and its source identified. The regulator said a forensic investigation remained underway and that the full scope of information accessed had not yet been established.
Stake and 1xBet Records Draw Scrutiny
Among the records examined by FTM were licensing files involving Stake and 1xBet. The investigation reported that Medium Rare NV, the Curaçao company behind Stake, listed Serbian national Mladen Vuckovic as its owner, although CGA officials questioned whether he was the sole controlling party.
According to FTM, regulatory assessments identified large loans and payments involving companies and individuals connected to Stake founders Ed Craven and Bijan Tehrani, neither of whom was named as an owner in the license application. The existence of those transactions does not by itself establish undisclosed ownership.
The files also reportedly show that Ihor Hniedash was listed as owner and CEO of Caecus NV, the Curaçao company behind 1xBet. CGA assessors suspected the company had multiple owners and sought further information about Hniedash’s relationship with people publicly associated with founding 1xBet, but FTM reported that the license was granted before those questions were resolved.
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The disclosures come after Curaçao overhauled its gambling licensing framework, replacing the former master-license and sublicense system with direct licensing under the National Ordinance on Games of Chance.
The CGA told FTM that operators were being moved gradually into the new framework and that unresolved questions did not automatically require an immediate license refusal. The regulator said companies had been given time to satisfy requirements during the transition.
The CGA has not yet determined the full impact of the security incident. It said affected individuals, applicants or licensees would be contacted if its investigation establishes that their information was compromised, while further disclosures from the leaked material are expected.
RELATED TOPICS: Regulation
