Mark Cuban Loses $900K in Hot Wallet Exploit: Details


According to reports, Mark Cuban, a billionaire businessman and owner of the Dallas Mavericks, had approximately $900,000 worth of cryptocurrency hacked from one of his popular wallets.

Mark Cuban Loses $900K

In accordance with Wazz, an independent blockchain investigator who was the first to notice the breach on September 15 at around 8 pm UTC, an unusual transaction was observed with one of Cuban’s wallets that the 65-year-old hadn’t dealt with in almost five months.

Multiple Sets of Assets Transferred

Multiple sets of assets, including USD Coin, Tether, and Lido Staked Ether (stETH), were unexpectedly cleared from the wallet during just a 10-minute interval, according to the transaction history on Etherscan.

The subsequent withdrawal and transfer of another $2 million worth of USDC to a separate wallet led Wazz to assume that the Cuban might have been doing nothing more than shifting his own assets. 

A Fake MetaMask Application

But a few hours later, Cuban told DL News he had visited MetaMask which he hadn’t done so in months and made an unclear allegation about how the hacker or hackers might have been keeping an eye on him and waited for an opportunity to strike. Cuban went on to say he was the one who had given Coinbase Custody the remaining money, thereby admitting that he was the one who made the $2 million USDC transaction.

Mark Cuban Continues to Support Crypto

Back in June, Cuban reportedly went up in a Twitter conversation as a supporter of the crypto revolution while also pointing out what he sees as flaws in the established banking system.

As reported by TheCoinRise at the beginning of the year, the billionaire businessman was scheduled to testify in a proposed class action lawsuit alleging that he helped finance a “Ponzi scheme” as the since-shuttered cryptocurrency lender Voyager Digital after his request to delay the deposition was denied by U.S. Magistrate Judge Lisette M. Reid.

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