Crypto Opinions & News Billionaire loses $870,000 from a malware-laced MetaMask hot wallet

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Ink

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Arkham Intelligence, a blockchain analytical firm, reported that Cuban managed to prevent a more significant loss by swiftly transferring his remaining assets to Coinbase before the hacker could seize them all.

On-chain analyst WazzCrypto was the first to report on the $870,000 breach. According to the analyst, the attacker targeted a wallet that had lain dormant for nearly 160 days before the exploit.

At first, it seemed Mark Cuban was transferring his assets to a new wallet. However, irregularities in the transaction pattern raised suspicions.

WazzCrypto highlighted that the owner of the Dallas Mavericks managed to transfer approximately $2.5 million in USDC to Coinbase, thwarting the attacker’s plans to snatch those funds as well.

Cuban later confirmed the hack, stating it happened after he downloaded a version of MetaMask with malware.
 
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MuzzMelbourne

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Why would someone like this, obviously, switched-on guy download a wallet from anywhere other than the developer?

I just don't get it...
 
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ForgottenSeer 103564

We don't find it safe to store passwords online, currently we strive to keep as much personal information off line as possible as obviously the cloud is not as secure as they lead everyone to believe, yet, we want to create and store currency online :unsure:

If there ever was anything "to not get" i would be willing to say this should be at the top of the list.
 

MuzzMelbourne

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Mar 13, 2022
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We don't find it safe to store passwords online, currently we strive to keep as much personal information off line as possible as obviously the cloud is not as secure as they lead everyone to believe, yet, we want to create and store currency online :unsure:

If there ever was anything "to not get" i would be willing to say this should be at the top of the list.

I suspect this has quite a bit to do with the current 'clunkiness' of crypto transaction's. Much easier to go from Bank>Exchange>Wallet>Transaction>Wallet>Exchange>Bank with all the TX and RX account details as simplified/automated as possible, given you're dealing with at least a couple of thousand characters in a pretty much 'no-backsy's' environment. Also, I have three main tokens, yet there is not a single 'cold' wallet that handles all three on a single device, and at A$100+ each... So, you sort of have to become a bit creative with information storage.

I reckon once the Token 'herd' has thinned a little things might, hopefully, streamline a bit.

"Baby step's Captain, baby step's..."
 

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