Mark Cuban Faces Crypto Hack, Loses Nearly $900,000

Billionaire owner of the Dallas Mavericks, Mark Cuban, has reportedly fallen victim to a significant crypto hack, losing nearly $900,000 in the process.

The breach was first identified by independent blockchain investigator, Wazz, on September 15th at around 8 pm UTC. They flagged suspicious activity in one of Cuban’s wallets that he had not accessed for approximately five months. Later, Cuban acknowledged that he had recently logged into MetaMask for the first time in months and hinted that the hacker(s) may have been monitoring his activity, waiting for the right moment to strike.

Lmao, did Mark Cuban’s wallet just get drained?

Wallet inactive for 160 days and all assets just moved pic.twitter.com/vWnMZFyHB5

— Wazz (@WazzCrypto) September 15, 2023

Cuban also confirmed that he had subsequently moved any remaining assets to Coinbase Custody, effectively validating the $2 million USDC transaction.

As news of the hack circulated, members of the crypto community were quick to offer insights. Some speculated that Cuban may have inadvertently authorized a malicious transaction, while others believed his private key might have been compromised, given the direct transfer of funds from the wallet.