Stake civil suit: leaked correspondence reportedly involves co-founder Ed Craven and a Swedish VIP

Editorial note: The matters described below remain the subject of ongoing civil proceedings reported by ABC News Australia. The allegations against Stake and Ed Craven have not been adjudicated; Stake denies wrongdoing. All quotations and characterisations attributed to leaked correspondence are drawn from press reporting and have not been independently verified.

At the end of 2025, a major scandal erupted around the popular crypto casino Stake. Journalists from the Australian outlet ABC News Australia made public leaked correspondence involving Ed Craven, one of the creators of Stake, and a wealthy Swedish individual named Chris.

This user had been part of the platform's elite VIP clientele for four years, from 2020 to 2024.

Chris's story is far from ordinary. He built his first serious capital as a teenager, at just 17 years old, by successfully trading in-game items and cryptocurrency. Later, he invested his casino winnings into rapidly growing assets: Bitcoin and Ethereum.

His introduction to Stake began with a frank admission of massive losses at competitors, minus €2.3 million at Bitcasino. Naturally, for the then-growing Stake project, such a wealthy "whale" was a major acquisition. As a result, Ed Craven took personal control of communication with the client, corresponding with him directly for several years.

The ABC News Australia report draws on what it describes as leaked correspondence. According to that reporting, the casino's co-founder is alleged to have continued to engage with the client despite signs the plaintiff later characterised as gambling addiction. Craven reportedly fuelled the client's gambling behaviour with generous bonuses, increased betting limits, and, most shockingly, allegedly helped bypass the self-exclusion system by suggesting the use of a "friend's account."

At the same time, Chris was not only gambling himself but also acting as a casino partner. Through an affiliate model, he actively referred new users to the platform, earning additional profits in the process.

The turning point came in 2025, when the Swedish gambling addict filed a lawsuit against Stake, seeking €1.5 million in compensation. The casino's representatives adopted a hardline defensive stance. They argue that Chris is a "professional player" who is now exploiting the addiction narrative to cover his losses. Moreover, according to Stake's internal statistics, over his entire lifetime activity, the Swede actually remained in net profit by €2.3 million.

As of now, Ed Craven and Stake's management have declined to make further public statements.

Some industry commentators have speculated that Craven continues to communicate directly with the platform's largest customers; Stake has not confirmed this. While there is no official confirmation of this, the leaked correspondence cited by ABC News Australia is now central to the civil claim. The proceedings remain ongoing; Stake disputes the plaintiff's characterisation.