Billionaire Mark Cuban Loses $900K in Cryptocurrency Hack
Summary:
Billionaire investor Mark Cuban has reportedly lost nearly $900,000 worth of cryptocurrency from one of his wallets in a recent hack. The incident was first highlighted by independent blockchain sleuth @WazzCrypto, who noticed suspicious activity in Cuban's inactive wallet. Assets including USDC, USDT, and stETH were quickly withdrawn, with an additional $2 million of USDC sent to a different wallet. Cuban later confirmed his involvement in the $2 million transfer, suggesting that the hacker(s) may have been monitoring his account. This is not the first time Cuban has experienced losses in the crypto market.
Billionaire investor and Dallas Mavericks owner Mark Cuban had nearly $900,000 worth of cryptocurrency drained from one of his hot wallets, as reported by independent blockchain sleuth @WazzCrypto. The hack was initially spotted when suspicious behavior was observed in a wallet that Cuban hadn't used for about five months. Additionally, several assets such as USD Coin (USDC), Tether USD (USDT), and Lido Staked Ether (stETH) were withdrawn from the wallet within a 10-minute timeframe. Later, another $2 million worth of USDC was transferred to a different wallet, leading to speculation that Cuban may have been moving assets himself. However, Cuban later revealed that he had accessed MetaMask after months of inactivity, suggesting that the hacker(s) may have been monitoring his account. He further confirmed transferring remaining assets to Coinbase Custody, affirming his involvement in the $2 million USDC transaction. While some community members pointed out the possibility of Cuban's compromised private key or a mistaken transaction, it is not the first time Cuban has faced losses in the cryptocurrency market, having experienced a previous setback in June 2021 with the collapse of the algorithmic stablecoin project Iron Finance.
Published At
9/16/2023 3:33:57 AM
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