Shark Tank’s Mark Cuban Loses Big in Account Heist
If you’re a Dallas Mavericks fan, and have concerns that Mark Cuban isn’t willing to spend the money he should on the team … you may want to avert your eyes.
Cuban, the Mavs team owner and also a “shark” on the investment reality show “Shark Tank,” recently revealed that he was the victim of a cryptocurrency scam.
And while the amount of money he lost — approximately $870,000, according to the cryptocurrency site DL News — isn’t especially hurtful to a billionaire, it’s a sizable chunk of fortune to have stolen.
Cuban told DL News that “someone got me for 5 eth,” referring to Ether, a type of cryptocurrency.
According to DL News, five Ether is worth about $9,000.
The other $861,000 worth of losses came across another nine different types of cryptocurrency.
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
When observers noticed some strange activity in Cuban’s cryptocurrency portfolio, the loquacious Dallas Mavericks owner discovered the fraud after not using the platform for a period.
“I went on MetaMask for the first time in months,” Cuban told DL News.
(MetaMask is, grossly simplified, a sort of digital “wallet” for digital cryptocurrency.)
Cuban added that hackers “must have been watching” his cryptocurrency accounts.
The 65-year-old celebrity entrepreneur appeared to lay the blame for the digital heist at the feet of MetaMask.
“I’m pretty sure I downloaded a version of MetaMask with some s*** in it,” Cuban said.
According to DL News, “Many fraudsters create fake MetaMask extensions or applications, tricking users into providing their private keys or seed phrases. Once these malicious actors gain access, they can easily drain users’ cryptocurrency wallets.”
Cuban did note that much of the potential damage was mitigated.
“Since I was only working with the account that got hacked, none of my others gave up anything,” he told DL News.
Much to the chagrin of cryptocurrency users, this has been the second high-profile cryptocurrency scam this month.
On Sept. 6, the FBI put out an official release connecting a North Korean hacker group to a whopping $41 million heist from an online casino that specializes in cryptocurrency.
And if there was any doubt about the lucrative nature of cryptocurrency crime, the FBI warned that this hacker group has stolen hundreds of millions of dollars.
“These same DPRK [Democratic People’s Republic of Korea, or North Korea] actors are also responsible for several other high-profile international virtual currency heists. In 2023 alone, DPRK cyber actors have stolen more than $200 million,” the FBI stated in its release.
The FBI added: “This amount includes, but is not limited to, approximately $60 million of virtual currency from Alphapo and CoinsPaid on or about July 22, 2023, and approximately $100 million of virtual currency from Atomic Wallet on or about June 2, 2023.”
The post ‘Someone Got Me’: Shark Tank Star Mark Cuban Loses Small Fortune After Heist Clears Out His Account appeared first on The Western Journal.
How did the scammer gain access to Mark Cuban’s private keys?
Ther access to the private keys, they can easily transfer funds out of the victim’s cryptocurrency wallet.”
Cuban’s loss highlights the dangers of the cryptocurrency market and the need for increased security measures. It serves as a reminder for investors to exercise caution and thoroughly research any platforms or applications they use for their digital assets.
Despite the significant amount of money lost, Cuban’s cryptocurrency scam experience is unlikely to have a significant impact on his overall wealth. With an estimated net worth of $4.4 billion, according to Forbes, he can absorb the loss without much financial strain.
However, it does raise concerns about his ability to protect the financial interests of the Dallas Mavericks. Cuban is known for his outspokenness and willingness to invest in his team, but this incident may lead some fans to question his financial decision-making.
The Dallas Mavericks have been a successful franchise under Cuban’s ownership, winning the NBA championship in 2011. Cuban has also invested in technology and various business ventures, showcasing his entrepreneurial spirit. However, this cryptocurrency scam reveals a vulnerability that could potentially impact his ability to make wise investment choices for the team.
While Cuban may not be directly responsible for the scam, it raises questions about his due diligence and the security measures he has in place for his investments. As a prominent figure in the business world, maintaining a strong reputation is crucial, especially when it comes to financial matters.
It remains to be seen how this incident will affect Cuban’s future investment decisions and the perception of him as an owner. Fans will be watching closely to see if he takes any additional measures to ensure the security of the team’s finances and prevent similar scams from occurring in the future.
Cuban’s openness about the scam serves as a lesson for other investors, highlighting the importance of staying vigilant and taking necessary precautions in the ever-evolving world of cryptocurrency. As the market continues to grow and attract more attention, it is crucial for individuals to educate themselves about the risks involved and make informed decisions.
In conclusion, Mark Cuban’s recent experience with a cryptocurrency scam serves as a cautionary tale for Dallas Mavericks fans and investors alike. While the financial loss may not significantly impact Cuban’s wealth, it raises concerns about his ability to protect the team’s finances and make sound investment decisions. It also emphasizes the need for increased security measures and vigilance when it comes to digital assets. Going forward, Cuban’s actions and response to this incident will determine how fans perceive him as an owner and whether they continue to trust his financial decisions for the team.
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