Billionaire investor Mark Cuban loses close to $1M to crypto scam

Tech enthusiast investor Mark Cuban have suffered a crypto scam attack, losing $870,000 worth of cryptocurrencies. The billionaire investor probably clicked on a phishing link.

Blockchain data shows Cuban’s wallet was drained of U.S.-pegged stablecoins, staked ETH (stETH), SuperRare (RARE) tokens, and some Ethereum Name Service (ENS) domains. On-chain sleuth @wazzcrypto raised the alarm of the attack.

Cuban reportedly claimed he downloaded a fake MetaMask wallet application downloaded which led to the phishing attack.

Cuban managed to save over $2.5 million worth of Polygon’s MATIC tokens by logging into the wallet and transferring the tokens to a Coinbase exchange address.

Phishing attacks are common in the web-3 space as crypto scammers tap users negligence to check the source of requests on a crypto wallet, or unknowingly download a fake application that mimics the original. Phishing attacks trick users into divulging sensitive data, downloading malware, and exposing their private information.

Earlier, in September, Ethereum co-founder Vitalik Buterin had his X account compromised in a phishing attack leading to users losing cumulatively $700,000 by sending tokens to an illicit link that was seemingly endorsed by Buterin.

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