Mark Cuban Loses Nearly $1M to Crypto Scam

Mark Cuban Loses Nearly $1M to Crypto Scam

The billionaire said he logged in to his crypto wallets after months of inactivity but had likely clicked on a phishing link.

Dallas Mavericks owner and billionaire technology investor Mark Cuban lost some $870,000 worth of tokens over the weekend after likely clicking on a phishing link after “months of inactivity.”
Phishing attacks trick users into divulging sensitive data, downloading malware, and exposing their private information. Such attacks are extremely common in the crypto industry, as users may fail to check the source of requests on a crypto wallet, or unknowingly download a fake application that mimics the original – one that exists only to steal holdings.
Cuban’s wallet was drained of U.S.-pegged stablecoins, staked ETH (stETH), SuperRare (RARE) tokens, and some Ethereum Name Service (ENS) domains, blockchain data shows. These movements were first spotted by on-chain sleuth