Mark Cuban Loses Nearly $1M to Crypto Scam
CoinDesk
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.
You May Ask
Who lost around $870,000 worth of tokens in a recent phishing attack?What are phishing attacks and how do they work?What types of tokens were stolen from Mark Cuban's wallet?How did Mark Cuban manage to save some of his tokens after the attack?Who else fell victim to a phishing attack recently and what were the consequences?