Billionaire Mark Cuban fell victim to a wallet hack yesterday, which resulted in the theft of approximately $870,000 in crypto. Seizing this incident as a teaching moment, Binance CEO Changpeng Zhao urged the community to prioritize their crypto security.
Arkham Intelligence, a blockchain analytical firm, reported that Cuban managed to prevent a more significant loss by swiftly transferring his remaining assets to Coinbase before the hacker could seize them all.
Mark Cuban Was Hacked
On-chain analyst WazzCrypto was the first to report on the $870,000 breach. According to the analyst, the attacker targeted a wallet that had lain dormant for nearly 160 days before the exploit.
At first, it seemed Mark Cuban was transferring his assets to a new wallet. However, irregularities in the transaction pattern raised suspicions.
WazzCrypto highlighted that the owner of the Dallas Mavericks managed to transfer approximately $2.5 million in USDC to Coinbase, thwarting the attacker’s plans to snatch those funds as well.
“[Mark Cuban] transfered $2M $USDC he had on Matic too, but to a different wallet than the ETH one. Seeing as he made a test tx first this time, Im gonna assume it’s actually him moving funds here,” Waz
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Author: Oluwapelumi Adejumo
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