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Fortunately, Cuban was immediately alerted and managed to transfer over $2.5 million worth of other crypto he held on Polygon to a Coinbase exchange address.
It turned out to be a big mistake for tech billionaire Mark Cuban when he decided to rethink crypto last weekend. After being inactive for several months, the Dallas Maverick owner thought it was a good idea to take a look at his holdings, but fell victim to a crypto scam.
According to blockchain data, he lost approximately $870,000 worth of tokens in the attack after his wallet was drained of US-pegged stablecoins, staked ETH (STETH), SuperRare (RARE) tokens, and some Ethereum Name Service (ENS) domains.
talking with DL News, Cuban indicated that someone may be monitoring his online activities. But despite their belief, investigation revealed that they likely downloaded a fake or look-alike MetaMask crypto wallet app.
The transactions were sudden and suspicious after 160 days of inactivity, according to @wazzcrypto, the on-chain spy who first noticed them.
Fortunately, Cuban was immediately alerted to the compromise and managed to transfer over $2.5 million worth of other crypto held on Polygon to a Coinbase exchange address. He told DL News:
“MetaMask crashed twice. I just stopped. Then you emailed me. So I locked my NFT on OpenSea. All transferred to my Polygon account.”
Mark Cuban and other prominent individuals are being targeted
It may be worth noting that Mark Cuban is the second high-profile target of a phishing attack in recent weeks. In early September, remember Coinspeaker informed of Ethereum co-founder Vitalik Buterin’s X (formerly Twitter) account was hacked. Although that hack was reportedly a SIM swap attack, hackers ultimately used the account to post phishing links, causing Buterin’s followers to lose a cumulative $700,000 worth of tokens. Although Buterin did not lose his personal wealth in the hack, there is no doubt that illicit actors are becoming more interested in attacking prominent individuals.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his writing style. He strongly believes in the potential of digital assets and takes every opportunity to reiterate it. He is also a reader, a researcher, an astute speaker and a budding entrepreneur. However, away from crypto, Mayowa’s imaginary distractions include discussing football or world politics.
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