Mark Cuban's Crypto-Wallet Targeted in Hacker Attack Resulting in $870,000 Loss

Billionaire Mark Cuban Loses $870,000 in Hacker Attack on Crypto Wallet

Dallas Mavericks NBA team owner, Mark Cuban, fell victim to a hacker attack on his MetaMask crypto wallet. The hacker stole approximately $870,000 worth of cryptocurrency. The suspicious activity was first noticed by blockchain expert Wazz, who pointed out that Cuban’s wallet had been inactive for 160 days before the funds were moved.

Cuban confirmed the hack to DL News and speculated that he may have downloaded a compromised version of MetaMask. Despite the loss, he managed to transfer the remaining crypto from MetaMask to his own Coinbase Custody crypto wallet. Additionally, Cuban blocked his NFTs on OpenSea as a precautionary measure.

Cuban Transfers Remaining Funds to Coinbase

Although Cuban suffered a significant loss, it could have been worse. He had around $2.5 million USDC on Polygon in the same wallet, but successfully transferred it to Coinbase without the hacker realizing.

Cuban’s Stance on Bitcoin vs. Gold

Last year, Cuban expressed his views on investing in Bitcoin versus gold. He believes that Bitcoin can be a smart investment because investors have direct ownership. In contrast, gold investments often involve third parties holding the physical gold, leading Cuban to criticize gold investors as “stupid as hell.” He considers Bitcoin a decent investment due to its potential for direct ownership and control.

Hot Take: Mark Cuban Falls Victim to Hacker Attack on Crypto Wallet

Billionaire investor Mark Cuban experienced a hacker attack on his MetaMask crypto wallet, resulting in the loss of $870,000 worth of cryptocurrency. Despite this setback, Cuban managed to transfer the remaining funds to another secure wallet and took additional precautions by blocking his NFTs. This incident highlights the risks associated with crypto investments and the importance of maintaining strong security measures. Cuban’s perspective on Bitcoin versus gold also emphasizes the advantages of direct ownership in the world of digital currencies. While unfortunate, this event serves as a reminder for crypto investors to remain vigilant and protect their assets.