September 7, 2024
Mark Cuban’s loses 0K in hot wallet hack

Nearly $900,000 worth of cryptocurrency was reportedly stolen from a hot wallet owned by billionaire investor and Dallas Mavericks owner Mark Cuban.

Independent blockchain sleuths @WazzCrypto first discovered the hack on September 15 at around 8pm UTC after highlighting suspicious behavior at one of Cuban’s wallets, where the 65-year-old There has been no interaction with the wallet for approximately five months.

According to transaction history On Etherscan, multiple batches of assets including USD Coin (USDC), Tether (USDT), and Lido Staked Ether (stETH) were suddenly withdrawn from wallets within 10 minutes.

To further complicate matters, another $2 million worth of USDC was also withdrawn and sent to another wallet, leading WazzCrypto to suspect that Cuban might simply be moving assets around.

However, a few hours later, Cuban confirmed to DL News that he was using MetaMask for the first time in months and was vague about it. suggestion One or more hackers may have been watching and waiting for an opportunity to pounce.

Cuban added that he had transferred all remaining assets to Coinbase Custody, essentially confirming that the $2 million USDC transaction was done by him.

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In the case of the hack, community members were quick to point out that, as opposed to the hackers monitoring Cuban’s activities, he must have done something that resulted in the security breach.

Some believe Cuban may have mistakenly signed a malicious transaction, while others assert his private keys were stolen. compromising Given that funds are transferred directly from the wallet.

Speculations about how Mark Cuban was hacked. Source:X

This isn’t the first time Cuban has taken a hit in the cryptocurrency market.

Back in June 2021, Cuban lost an undisclosed amount of capital due to what he called a “rug pull” after an algorithmic stablecoin project called Iron Finance collapsed due to an alleged bank run.

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