The renowned US investor, TV personality, and owner of the Dallas Mavericks, Mark Cuban, fell victim to what appears to be a sophisticated phishing attack, resulting in the loss of nearly $900,000 from one of his MetaMask wallets. On-chain data has confirmed the substantial value of the funds drained from Cuban’s wallet.
Crypto enthusiasts and sleuths were quick to jump on the case, with popular crypto investigator WazzCrypto shedding light on the situation via a tweet on Friday evening. WazzCrypto speculated about the potential exploitation of Mark Cuban’s wallet, noting that the wallet address had remained inactive for almost six months before suddenly witnessing a massive outflow of funds.
Unusual Activity Raises Alarm
The wallet, humorously dubbed “Mark Cuban 2” on Etherscan, exhibited some suspicious transactions. Notably, a $2 million USDC transfer raised eyebrows, followed by the complete conversion of all ETH holdings to MATIC after a deposit on Coinbase.
Mark Cuban himself confirmed the incident in an exclusive interview with DL News. He revealed that he had logged into MetaMask for the first time in months, stating, “They must have been watching.” Cuban’s admission hints at a targeted phishing operation that took advantage of his long absence from the wallet.
Further discussing the incident, Mark Cuban mentioned, “I’m pretty sure I downloaded a version of MetaMask with some ‘stuff’ in it,” suggesting that he had unknowingly installed a compromised version of the popular wallet extension. He also explained that he initiated the $2 million transfer to Coinbase himself as a protective measure for the rest of his crypto investments.
Fortunately, Mark Cuban’s crypto holdings weren’t entirely wiped out. He clarified that he had logged into only one of his MetaMask accounts, indicating that his other wallets remained unaffected by the phishing attack.
Mark Cuban’s Evolving Relationship with Crypto
Mark Cuban’s journey in the crypto space has been a rollercoaster ride. From dismissing Bitcoin years ago to later embracing it and other cryptocurrencies like Ethereum (ETH) and non-fungible tokens (NFTs), Cuban has evolved into a notable crypto advocate and investor with a diverse portfolio.
The incident serves as a stark reminder of the ongoing threat of phishing attacks within the crypto community, even to high-profile figures like Mark Cuban. It highlights the importance of remaining vigilant and taking cybersecurity measures to protect digital assets.
