• Mark Cuban, billionaire investor and owner of the Dallas Mavericks, reportedly lost nearly $900,000 worth of cryptocurrency from one of his hot wallets.
• The hack was first noticed by an independent blockchain sleuth on September 15th after they discovered suspicious activity in one of Cuban’s wallets that had been inactive for five months.
• Transactions on Etherscan revealed that assets such as USD Coin (USDC), Tether (USDT), and Lido Staked Ether (stETH) were suddenly withdrawn from the wallet in a 10-minute window.
• An additional $2 million worth of USDC was then sent to a different wallet, leading to speculation that Cuban may have been moving his assets.
• Cuban later confirmed that he had accessed MetaMask for the first time in months, suggesting that the hacker may have been monitoring his activity.
• Cuban transferred his remaining assets to Coinbase Custody, confirming that the $2 million USDC transaction was legitimate.
• Community members pointed out that Cuban’s actions may have led to the security breach, with some suggesting that he mistakenly signed a malicious transaction or that his private key was compromised.
• This is not the first time Cuban has suffered losses in the crypto market. In June 2021, he lost money in a rug pull incident involving the Iron Finance stablecoin project.