📰 Yello Paradisers!
Billionaire investor and Dallas Mavericks owner Mark Cuban has confirmed that he was hacked, losing nearly $900,000 worth of cryptocurrency. Let’s dive into the details.
📰 The Hack Unveiled
On Sept. 15, around 8 pm UTC, independent blockchain investigator Wazz spotted suspicious activity in one of Cuban’s hot wallets. This wallet had been dormant for about five months. According to Etherscan, several batches of assets like USD Coin and Lido Staked Ether (stETH) were withdrawn within a 10-minute window.
📰 Adding Complexity
Shortly after the initial withdrawals, another $2 million worth of USDC was moved to a different wallet. This led Wazz to speculate that Cuban might have been rearranging his assets. However, Cuban later confirmed that he had transferred the remaining assets to Coinbase Custody, essentially verifying that the $2 million transaction was his doing.
📰 Cuban’s Response
Cuban told DL News that he had logged into MetaMask for the first time in months and suggested that the hackers might have been monitoring his activity. While he didn’t specify how the hack occurred, he did confirm that he had moved any remaining assets to a more secure location.
📰 Community Speculation
Members of the crypto community have been quick to offer their theories on how the hack might have happened. Some suggest that Cuban may have mistakenly signed a malicious transaction, while others believe his private key was compromised.
📰 Not the First Time
This isn’t Cuban’s first brush with crypto misfortune. Back in June 2021, he lost an unspecified amount in a “rug pull” when Iron Finance, an algorithmic stablecoin project, collapsed.
📰 The Takeaway
The incident serves as a stark reminder of the risks involved in managing digital assets, even for seasoned investors like Cuban. Always exercise caution and use secure methods for storing your crypto.
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