- Mark Cuban reportedly lost $870k in cryptocurrency from his hot wallet.
- The wallet had been inactive for over five months before the loss.
- Cuban confirmed transferring $2 million USDC to Coinbase Custody post-incident.
It has been reported that Mark Cuban, a billionaire entrepreneur, purportedly experienced a significant loss of approximately $870k in cryptocurrency from one of his hot wallets. This incident was first observed on September 15 around 8 pm UTC by a blockchain analyst named Wazz, who pointed out irregular transactions in one of Cuban’s wallets that had been inactive for over five months.
The transaction history on Etherscan reveals that a significant quantity of tokens was abruptly withdrawn from the wallet in 10 minutes. The tokens involved were USDC, USDT, and Lido Staked Ether
On the Verge of Striking
Several hours after the incident, Cuban confirmed that he had accessed MetaMask after prolonged inactivity. He also subtly hinted at the potential scenario of a hacker lying in wait for an opportune moment to launch an attack.
Cuban verified that he was responsible for transferring $2 million USDC, stating that he had relocated any remaining funds to Coinbase Custody. Community members quickly suggested that the breach was likely due to Cuban’s actions rather than being the outcome of hackers tracking his online activities.
Given that the funds were transferred directly from the wallet, bypassing any middlemen, there is speculation that Cuban might have inadvertently authorized a harmful transaction. Alternatively, others suggest that his private key may have been compromised.
