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Billionaire investor, TV personality, and owner of the Dallas Mavericks, Mark Cuban, had one of his crypto wallets hacked, with the attacker siphoning off nearly $900,000 worth of crypto.
Cuban confirmed the hack on Friday but added that he doesn’t know how the hacker managed to gain access to his hot wallet.
Mark Cuban’s Hot Wallet Hacked
The hack was first spotted by Wazz, an independent blockchain investigator, on the 15th of September at around 8 pm UTC. The blockchain investigator flagged suspicious activity after he noted that one of Cuban’s hot wallets, which had been inactive for months, suddenly had all its assets moved.
“Did Mark Cuban’s wallet just get drained? Wallet inactive for 160 days, and all assets just moved.”
The transaction history on Etherscan showed that the hacker suddenly withdrew several batches of assets within minutes. These included USD Coin (USDC), Tether (USDT), and Lido Staked Ether (stETH). To complicate matters, a further $2 million worth of USDC was withdrawn from the wallet, called “Mark Cuban 2,” was withdrawn and sent to another wallet. Additionally, the hacker also dumped ETH and MATIC after making a deposit on Coinbase.
“Address on Matic was a Coinbase deposit address End of an era, But the address on ETH swapped all USDC for $ETH so it’s a very different behavior. Still possible he was drained on ETH and saved his Matic bags.”
Cuban Confirms Hack
Mark Cuban confirmed the hack a few hours later, stating that he had gone on MetaMask for the first time in months, suggesting that the hacker or hackers may have been waiting for an opportunity to make their move. He added that he may have downloaded a fake version of MetaMask with something malicious, suggesting he may have become the latest in the crypto space to fall victim to a phishing attack.
Cuban also added that he had transferred his remaining assets to Coinbase Custody, confirming it was he who moved the $2 million worth of USDC.
Community Speculates How Hack Happened
The crypto community was quick to speculate how the hack occurred, given Cuban had not shared too m
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Author: Amara Khatri
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