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.