Mark Cuban's Crypto Assets Targeted in Cyberattack, Blockchain Detective Unravels the Scene

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Tue, 26 Sep 2023, 01:21 PM
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Mark Cuban's Crypto Assets Targeted in Cyberattack, Blockchain Detective Unravels the Scene

Mark Cuban faced a cyberattack, with nearly $900,000 in crypto assets being taken. Blockchain expert Wazz provided insights into the mysterious transaction.

Mon, 18 Sep 2023, 06:26 am UTC

A cyberattack saw a sum approaching $900,000 in cryptocurrency vanish from a wallet linked to Mark Cuban, the billionaire Dallas Mavericks owner. Wazz, a noted blockchain detective, was among the first to identify the unusual activity on September 15, pointing out odd transactions involving Cuban's wallet – a wallet that hadn't been accessed by Cuban in about half a year.

Based on the Etherscan transaction records, the abrupt withdrawals involved cryptocurrencies such as USD Coin (USDC), Tether (USDT), and Lido Staked Ether (stETH), all transacted in a brief span of 10 minutes. The enigma deepened when another transfer, involving roughly $2 million in USDC, was made to a different crypto wallet. This triggered Wazz to theorize that maybe Cuban was just rearranging his assets.

Yet, Mark Cuban, in a discussion with DL News, indicated his recent use of MetaMask after a considerable hiatus. He hinted at the possibility that cyber criminals had been monitoring his actions, awaiting the perfect opportunity. He also mentioned his subsequent move to transfer the remaining assets to Coinbase Custody, indirectly verifying that the $2 million USDC shift was initiated by him.

Community insiders and enthusiasts began to debate the incident's root cause. While some believed the breach might have been due to Cuban's unintentional approval of a malicious transaction, others speculated that Cuban's private key had been compromised. This is supported by the fact that funds were directly removed from the wallet.

Long before diving into cryptocurrencies, Mark Cuban established his reputation through diverse investments. His portfolio boasts of successful ventures in the tech industry, notably his acquisition of Broadcast.com, which he sold to Yahoo.

Moreover, Cuban's commitment to the Dallas Mavericks and his consistent appearances on the entrepreneurial show “Shark Tank” showcase his keen eye for potential start-ups and innovative ideas. These previous ventures highlight Cuban's adaptability and foresight in the ever-evolving world of business and finance.

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