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Billionaire Investor Mark Cuban Loses $870K in Crypto in MetaMask Wallet Hack

Entrepreneur and investor Mark Cuban, who has a net worth of more than $5 billion, became a victim of a hack on the night of September 15, DL News reported. Cuban lost $870,000 of crypto assets in the attack, which compromised his MetaMask wallet.

On-Chain Sleuth Wazz First sharp A sudden transaction occurred in a MetaMask wallet labeled ‘Mark Cuban 2’ on Etherscan. The wallet was inactive for more than five months.

Cuban confirmed the hack to DL News and said he lost 5 Ethereum (ETH) tokens, worth approximately $8,170 at current prices. However, they also lost USD Coin (USDC), Polygon (MATIC), Lido Staked Ethereum (stETH), and SuperRare and Ethereum Name Service tokens.

Most of the proceeds from the hack were still lying in the hacker’s wallet at the time of writing. Cuban managed to transfer approximately 2 million USDC from the wallet to Coinbase custody and prevent most of the assets from being stolen.

Malicious MetaMask Extension

According to Cuban, he is “pretty sure” he downloaded a malicious version of MetaMask, which led to the hack. He told DL News:

“I went to MetaMask for the first time in several months. They will be watching.”

Malicious actors often create fake extensions of MetaMask to trick users into revealing private keys or seed phrases. Once bad actors gain access, they can easily drain assets.

Cuban said his MetaMask application “crashed twice,” after which he locked his non-fungible tokens (NFTs) on OpenSea and removed all of his MATIC from the account.

This is not the first time Cuba has suffered crypto losses. When Iron Finance’s TITAN stablecoin reportedly collapsed in 2021, Cuban lost an unspecified amount of assets.

Furthermore, Cuba is the latest target in a series of high-profile crypto hacks and scams. Crypto exchange CoinX reportedly lost $27 million in a hack on September 12.

Last week, Ethereum co-founder Vitalik Buterin’s X account was hacked and used to promote phishing links. Scammers stole approximately $700,000 worth of NFTs and crypto from victims.

Disclaimer: The opinions of our writers are solely their own and do not reflect the opinions of CryptoSlate. Any information you read on CryptoSlate should not be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your due diligence before taking any action related to the content of this article. Finally, CryptoSlate takes no responsibility if you lose money trading cryptocurrency.

Source: cryptoslate.com

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