Nearly $900,000 worth of cryptocurrency was reportedly drained from one of the active wallets belonging to billionaire investor and Dallas Mavericks owner Mark Cuban.
Independent blockchain detective @WazzCrypto was the first to detect the hack on September 15 around 8 pm UTC, after they highlighted suspicious behavior in one of the Cuban wallets that the 65-year-old had not interacted with for approximately five months.
Lmao, did Mark Cuban's wallet just empty?
Wallet inactive for 160 days and all assets just moved pic.twitter.com/vWnMZFyHB5
- Wazz (@WazzCrypto) September 15, 2023
Depending on the transaction history on Etherscan, various lots of assets like USD Coin (USDC), Belt (USDT) and Lido Staked Ether (stETH) were suddenly withdrawn from the wallet within a 10-minute period.
To add complexity to the matter, another $2 million in USDC was also withdrawn and sent to a different wallet, leading WazzCrypto to suspect that Cuban may have been moving assets.
However, a few hours later, Cuban confirmed to DL News that he had accessed MetaMask for the first time in months, and vaguely He suggested that the hacker or hackers may have been watching and waiting for a moment to attack.
Cuban added that he had transferred all remaining assets to Coinbase Custody, essentially confirming that the $2 million USDC transaction was his.
Related: North Korean cryptocurrency hacks fell 80%, but that could change overnight: Chainalysis
In terms of the hack, community members were quick to point out that, unlike the hackers who were observing Cuban's activity, he must have done something that led to the security breach.
Some suggested that Cuban may have mistakenly signed a malicious transaction, while others claimed that his private key was engaged since the funds were transferred directly from the wallet.
This is not the first time Cuban has taken a hit in the cryptocurrency market.
In June 2021, Cuban lost an unspecified amount of capital in what he called a โrug pullingโ after an algorithmic stablecoin project called Iron Finance imploded amid a alleged bank run.
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