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Mark Cuban's Wallet gets Hacked?
Full Details of the Crime
The cool side of the blazing crypto ecosystem.
A Crypto newsletter covering the latest Hacks & Crime to keep you safe.
What’s in today’s crime cooler:
Summary of What Happened
What is the Impact on Users, Businesses, and Funds
How to be More Secure in the Future
Final Thoughts
Mark Cuban’s Wallet got Hacked for 870K
Summary of What Happened
On September 15th, many people on Twitter raised awareness to Mark Cuban’s crypto wallet. The wallet hasn’t been interacted with in 160 days then all of a sudden an outflow of assets starts occuring.
Outflow of Mark’s Wallet
In the span of a 10 minute window 870K worth of assets was sent to another wallet. Then lastly $2 million USDC was withdrawn.
A few hours later Mark Cuban confirms with DL News that he was hacked.
Mark stated, “I went on MetaMask for the first time in months. They must have been watching.”
Also saying, “I am pretty sure I downloaded a version of MetaMask with some shit in it.”
Luckily the $2 million dollar withdrawal was him and he was able to transfer any remaining assets to Coinbase Custody.
Mainly speculations but the main conclusion points to his private keys being compromised.
What is the Impact on Users, Businesses, and Funds
Users:
Of course Mark Cuban being the only user in this case. He knew he messed up after the fact and downloaded the wrong version of MetaMask which had malicious code in it to take his seed phrase or private key.
Funds:
Super unfortunate that the hackers took 870K worth of funds but it could have been a lot worse as Mark had $2 million USDC in there and more NFTs.
They stole many different tokens such as USDC, Tether, ENS, Matic, and more.
How to be More Secure in the Future
DONT DOWNLOAD OR CLICK RANDOM LINKS
Next, make sure those quickly accessible funds are in a secure location. Of course with a billionaire this isn’t a real priority because the $3 million in there is only not even .001% of his net worth.
It’s like me losing a dollar or that quarter I gave my girlfriend.
Final Thoughts
Unfortunate for anyone to get caught with a hack or bad link but it has happened to the best of us. Always when getting a new link, extension or plug-in that you verify where it is from before you download it. Also keep your important assets in a COLD WALLET or STORAGE. They could have easily taken all Mark’s funds. If he has his funds and NFTs in a wallet elsewhere this wouldn’t have happened.
A rundown of the hack:
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Disclaimer: The information shared in this newsletter is for informational purposes only and should not be considered financial advice. It is crucial to conduct independent research and consult with a financial advisor before making any investment decisions.
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