Mark Cuban Recovers 3M USDC From Stolen Crypto Wallet on MetaMask

  coinedition.com 16 September 2023 13:48, UTC

Data from Arkham Intelligence, a platform that uses artificial intelligence to sort on-chain data, revealed that Mark Cuban, a well-known American investor and owner of the NBA Dallas Mavericks, recovered 3.049 million USDC from his stolen wallet. Colin Wu, the famous Chinese crypto reporter, posted that following the recovery, Cuban transferred the recovered USDC to an address on the Coinbase exchange.

The address (0x29…dAAc) of Mark Cuban, a well-known American investor and owner of the NBA Dallas Mavericks, was stolen after being idle for 160 days, including 175k USDC, 4.34k USDC, 4.86k USDT, 7.02k RARI, 12.36k MATIC, and 338.21 stETH. , 5.29 ETH, 8.247 WETH, 697.48k RARE,…

— Wu Blockchain (@WuBlockchain) September 16, 2023

According to Wu, Cuban’s wallet was stolen after being idle for 160 days. He also noted that the wallet contained 175k USDC, 4.34k USDC, 4.86k USDT, 7.02k RARI, 12.36k MATIC, 338.21 stETH, 5.29 ETH, 8.247 WETH, 697.48k RARE, 16.67k BIT, 5.92 GOHM, and 10k AUDIO. Despite Cuban’s recovery, the wallet reportedly lost about $870,000 to the hacker or group of hackers.

The incident was spotted by Wazz, an independent blockchain sleuth on the X app. Wazz highlighted an unusual behavior on the wallet after being idle for such a long time. The X app user shared a screenshot of the recent on-chain activities on the particular wallet and asked if the wallet had just been drained.

Lmao, did Mark Cuban’s wallet just get drained?

Wallet inactive for 160 days and all assets just moved pic.twitter.com/vWnMZFyHB5

— Wazz (@WazzCrypto) September 15, 2023

According to reports, Cuban confirmed the hack a few hours after Wazz’s post. The renowned investor acknowledged to have logged into the address on MetaMask after several months of inactivity. Cuban suggested that the hacker, or hackers, may have been stalking the said wallet for a long time, waiting for the right moment to strike.

Speculating on the incident, a crypto user on X app identified as Cryptomom, said Cuban must have signed something he should not have from his MetaMask wallet. She wondered why the investor held such a significant amount of crypto in a hot wallet.

Speculation over Mark Cuban’s wallet hack. Source: X

Another X app user, Junion, debunked Cryptomom’s speculation, affirming that Cuban did not sign any such thing. According to Junion, the transaction details on Etherscan showed Cuban’s private key was compromised, as indicated by the direct transfers.

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