Mark Cuban has confirmed that he was hacked, but at the moment, he doesn’t seem to know precisely how it occurred.
Around $900,000 worth of cryptocurrency was reportedly stolen from one of the digital wallets owned by billionaire investor and Dallas Mavericks owner Mark Cuban.
An independent blockchain investigator, @WazzCrypto, noticed the hack on September 15 at approximately 8 PM UTC. They became suspicious because there was unusual activity in one of Cuban’s wallets that he hadn’t used for about five months.
Lmao, did Mark Cuban's wallet just get drained?
Wallet inactive for 160 days and all assets just moved pic.twitter.com/vWnMZFyHB5
— Wazz (@WazzCrypto) September 15, 2023
According to Etherscan’s transaction records, there was a fast withdrawal of different assets, such as USD Coin (USDC), Tether (USDT), and Lido Staked Ether (stETH), from the wallet in just a short 10-minute period.
What’s interesting is that another $2 million worth of USDC was later withdrawn and moved to a different wallet. These series of transactions have led to suspicions that Mark Cuban might have been managing transfers of assets within his portfolio.
Mark Cuban Confirms Theft
A few hours later, billionaire Mark Cuban confirmed to DL News that he had logged into MetaMask for the first time in months. When contacted by DL News, Cuban initially didn’t know about recent wallet activities and said, “Someone got me for 5 ETH.” He explained that he suspected someone had been watching his actions.
However, Cuban’s losses went beyond the initial 5 Ether, which is worth about $9,000 at current rates. In total, he lost around $870,000 spread across 10 different cryptocurrencies.
Cuban mentioned, “I’m pretty sure I downloaded a version of MetaMask with some issues.” He said the hack happened when he was trying to clean up his account on his phone. “MetaMask crashed a couple of times. I just stopped. Then you emailed me. So I locked my NFTs on OpenSea and transferred all my Polygon in the account,” Cuban said.
Many scammers create fake MetaMask extensions or apps to trick users into revealing their private keys or seed phrases. Once they gain unauthorized access, they can easily empty users’ crypto wallets.
Cuban recalled, “Since I was only using the compromised account, none of my other accounts were affected.” He added that he successfully moved the remaining assets to Coinbase using the authentication “dongle” provided by Coinbase. The billionaire also expressed his belief that 99% of crypto tokens will eventually fail.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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