Mark Cuban Confirmed He Lost Approximately $870,000 In The Recent Hack

Key Points:

• Mark Cuban lost $870,000 in a crypto hack targeting 10 assets, citing issues with a potentially malicious MetaMask version.
• Security concerns arise in the crypto community due to fraudulent extensions.
• Cuban takes action, transferring the remaining assets to Coinbase for added protection.

Billionaire entrepreneur and owner of the Dallas Mavericks, Mark Cuban, found himself at the center of a cyber attack recently, as reported by DL News.

The hack, which took place on a fateful Friday night, resulted in the loss of approximately $870,000, encompassing 10 types of token assets, including Ethereum (ETH). In response to the security breach, Cuban is taking swift action by transferring his remaining assets to Coinbase’s custody.

Cuban’s digital wallet, dubbed “Mark Cuban 2” on the blockchain explorer EtherScan, exhibited sudden and suspicious activity. Reflecting on the incident, Cuban shared:

“I went on MetaMask for the first time in months. They must have been watching.”

This unfortunate event has highlighted the dangers associated with fraudulent MetaMask extensions and applications that deceive users into revealing their private keys or seed phrases, allowing malicious actors to drain their cryptocurrency wallets.

Cuban’s losses spanned multiple cryptocurrencies, including stablecoins and various tokens. He has already taken precautions to secure his remaining assets. Additionally, Cuban used Coinbase’s authentication dongle to facilitate the transfer of his remaining assets, bolstering his security.

Mark Cuban, who initially expressed skepticism about cryptocurrencies in 2017, has since become more supportive of the digital asset industry. This unfortunate incident serves as a stark reminder of the importance of vigilance and security when navigating the crypto space.

Prior to this, a security compromise on Vitalik Buterin’s X account was reportedly discovered. Buterin is the co-founder of Ethereum. Significantly, this episode has been linked to substantial financial harm for some of his supporters, totaling more than $690,000.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.