While The Exploit Vector Remains Unclear, Billionaire Investor Mark Cuban Is Moving His Digital Assets To Coinbase Custody
Billionaire investor and crypto enthusiast Mark Cuban has confirmed that one of his wallets was hacked, resulting in a loss of over $870,000.
The exploit was first reported by WazzCrypto, who questioned why the long-dormant wallet belonging to Cuban was suddenly moving all its assets.
Cuban said he was unaware of the hack when approached on the matter by DL News, and later said 5 ETH was stolen, worth just over $8200 at current market prices.
However, the true extent of Cuban’s losses was actually much greater and amounted to over 870,000 in stolen assets. Etherscan records show transfers of USDC, MATIC, and stETH as well as tokens from platforms such as SuperRare, and Ethereum Name Service.
The pilfered tokens remain in the attacker’s wallet at the time of writing.
Exactly how Cuban fell victim to the scam is unclear. He told DL News that he plans to send his remaining digital assets to Coinbase Custody.
This isn’t Cuban’s first loss in crypto. In a 2021 foray into the world of DeFi, Iron Finance, an algorithmic stablecoin the billionaire had a sizeable position in, imploded leaving holders with worthless tokens.
Cuban appeared on Bloomberg shortly thereafter to call for stablecoin regulations.