Mark Cuban Loses Nearly $1M to Crypto Scam


18 Sep 2023 6:17 AM

The billionaire said he logged in to his crypto wallets after months of inactivity but had likely clicked on a phishing link....

  • Mark Cuban, owner of the Dallas Mavericks and a billionaire technology investor, lost around $870,000 worth of tokens after falling victim to a phishing attack.
  • Phishing attacks are common in the crypto industry and involve tricking users into divulging sensitive information or downloading malware.
  • Cuban's wallet was drained of U.S.-pegged stablecoins, staked ETH (stETH), SuperRare (RARE) tokens, and Ethereum Name Service (ENS) domains.
  • The movements of the stolen tokens were first noticed by @wazzcrypto, an on-chain sleuth.
  • Cuban managed to save over $2.5 million worth of Polygon's MATIC tokens by transferring them to a Coinbase exchange address after being alerted of the transactions.
  • The phishing attack was linked to a fake MetaMask wallet application that Cuban had downloaded.
  • This incident follows a similar phishing attack on Ethereum co-founder Vitalik Buterin's account, where users lost a cumulative $700,000 by sending tokens to an illicit link.

The sentiment of the article is negative, as it discusses the loss of funds due to a phishing attack on Mark Cuban's wallet and highlights the common occurrence of such attacks in the crypto industry.

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You May Ask

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