Yesterday we wrote that billionaire Mark Cuban was the victim of a wallet hack that resulted in the theft of approximately $870,000 worth of cryptocurrencies. But how could this happen? Cuban himself explains the incident.
Crypto wallet hacked via malware
Cuban managed to transfer about $2.5 million in USDC to Coinbase at the last minute. This thwarted the hacker’s plans to get this loot too. Cuban later confirmed the hack, saying it occurred after he downloaded a version of MetaMask that contained malware.
“I’m pretty sure I downloaded a version of MetaMask that had some junk in it. MetaMask crashed a few times. So I just stopped… After that I locked all my NFTs on OpenSea. And transferred my entire polygon.”
Cuban said. Interestingly, Cuban’s wallet was inactive for almost 160 days before the hack occurred. At first it looked like Mark Cuban was sending his cryptocurrency to a new wallet. However, irregularities in the course of the transaction raised suspicions.
CEO of crypto exchange Binance responds
In response to the incident, Binance CEO Changpeng “CZ” Zhao published an article with insights on how people can better protect their cryptocurrencies. CZ mentions, among other things, methods for securing private keys and the secure transmission of these keys. The CEO of Binance has recently made efforts to help the crypto community secure their cryptocurrencies.
Mark Cuban confirms he was hacked on MetaMask for $870,000. This happens to the most experienced crypto users.
Read this article I wrote 3 years ago. There is a section for downloading software, waiting 72 hours, etc.
— CZ 🔶 Binance (@cz_binance) September 16, 2023
As this event shows, it is important to be vigilant and take the security of your cryptocurrency seriously. Hackers continue to look for vulnerabilities and new ways to steal from unwitting crypto holders.
Cuban is not only a prominent crypto figure, but also known from the popular TV show Shark Tank. The multi-billionaire is also a successful entrepreneur and, among other things, the owner of the basketball team The Dallas Mavericks.