Billionaire investor and Dallas Mavericks owner Mark Cuban fell victim to a hot wallet hack, losing approximately $870,000 worth of cryptocurrency. The hack was first identified by blockchain investigator Wazz, who noticed suspicious activity in one of Cuban’s wallets that hadn’t been used for several months.
Within a ten-minute period, various assets, including USD Coin (USDC), Tether (USDT), and Lido Staked Ether (ETH), were withdrawn from the wallet. An additional $2 million worth of USDC was also transferred to another wallet, leading to speculation that Cuban may have been moving assets himself.
Cuban later confirmed the hack, revealing that he had accessed the wallet through MetaMask, raising the possibility that the hacker had been monitoring his activity. Cuban subsequently transferred the remaining assets to Coinbase Custody. Some community members suggested that Cuban may have unknowingly signed a malicious transaction or had his private key compromised.
This is not the first time that Cuban has experienced losses in the crypto market. In June 2021, he suffered losses due to a “rug pull” in the Iron Finance stablecoin project.
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