Mark Cuban Falls Victim to Crypto Hack, Losing $870K
Mark Cuban, the billionaire crypto investor and owner of the Dallas Mavericks, has recently been targeted by hackers who stole approximately $870,000 worth of cryptocurrency from him. This incident occurred shortly after Ethereum co-founder Vitalik Buterin experienced a similar hack.
The Unfortunate Incident
In an interview with DL News, Cuban confirmed that he had downloaded a new version of the MetaMask crypto wallet app from Google. However, this version contained malicious links that compromised his account when he logged in to clean the app on his phone.
Alert Raised by On-Chain Sleuth
The crypto hack came to light when WazzCrypto, an on-chain sleuth, noticed unusual activity in Cuban’s wallet on EtherScan. After raising the alarm, Cuban took immediate action to secure his remaining digital assets.
Digital Assets Stolen
The stolen digital assets included USDC, USDT, RARI, MATIC, stETH, ETH, WETH, RARE, BIT, GOHM, and AUDIO. These assets amounted to a total value of $870,000 based on current market prices.
Recovering Stolen Funds
Cuban managed to recover 3.049 million USDC from the stolen wallet and promptly transferred it to his Coinbase wallet. He also secured his non-fungible tokens (NFTs) portfolio by locking them all on OpenSea.
Mark Cuban’s Involvement in Crypto and NFTs
Cuban has been an early adopter of cryptocurrency and has invested in projects like Dogecoin. He even accepts cryptocurrency as payment for Dallas Mavericks merchandise and tickets. In a podcast, he revealed that 80% of his recent investments outside of Shark Tank were in crypto assets. He considers himself a crypto “evangelist” and has a diverse portfolio of coins and NFTs.
Closing Thoughts
Mark Cuban’s unfortunate hack serves as a reminder of the risks associated with cryptocurrency and the importance of taking necessary precautions. As the crypto industry continues to grow, it is crucial for investors to remain vigilant and stay informed about potential security threats.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
