Mark Cuban loses $870,000 from a hacker attack on his crypto-wallet

Billionaire investor Mark Cuban suffered a hacker attack on his MetaMask crypto wallet, losing the equivalent of $870,000. 

After confirming he was a victim, Cuban was able to transfer the remaining funds to another Coinbase crypto wallet. 

Mark Cuban victim of hacker attack on his crypto wallet

Dallas Mavericks NBA team owner Mark Cuban was the victim of a hacker attack on his MetaMask crypto wallet. The hacker allegedly robbed crypto worth the equivalent of $870,000. 

Noticing it first, was blockchain expert Wazz: 

Lmao, did Mark Cuban’s wallet just get drained?

Wallet inactive for 160 days and all assets just moved pic.twitter.com/vWnMZFyHB5

— Wazz (@WazzCrypto) September 15, 2023

Essentially, the hacked crypto-wallet is on MetaMask and is identified on Etherscan as Mark Cuban 2, hence the association with the billionaire investor. After 160 days of inactivity, the blockchain expert noticed the somewhat suspicious movement of funds. 

Soon after, Cuban, confirmed the hack of his wallet to cryptocurrency news organ DL News, stating the following:

“I went on Metamask for the first time in months. They must have been watching. I’m pretty sure I downloaded a version of Metamask with some shit in it. The wallet crashed several times.”

Mark Cuban and the hacker attack: the remaining funds from his crypto-wallet are now on Coinbase

Despite the estimated loss of $870,000, Cuban then proceeded to transfer the remaining crypto from MetaMask to a Coinbase Custody crypto-wallet of his own. Not only that, the billionaire investor also claimed to have blocked his NFTs on OpenSea. 

In this regard, crypto intelligence firm Arkham highlighted the following:

Mark Cuban’s address “mcuban” was drained for $870K last night.

What some may have missed is that the damage could have been MUCH worse. Cuban had ~$2.5M USDC on Polygon, in the same wallet!

Luckily, he managed to transfer it to Coinbase without the hacker realizing. pic.twitter.com/DVoygYC88f

— Arkham (@ArkhamIntel) September 16, 2023

In essence, Cuban’s rescue transaction of his remaining funds was a whopping $2.5 million USDC on Polygon. 

Bitcoin vs Gold: Cuban’s statements

Late last year, Cuban had revealed his position on investing in Bitcoin versus gold. 

According to the billionaire investor, Bitcoin could be a smart investment, compared to gold investments, because that gold is not in the hands of the investor. 

For Cuban, the important thing is to own what you invest, and today when you invest in gold, you almost never own it. Therefore, he believes that gold investors are “stupid as hell,” while he defines Bitcoin as a “decent investment.”