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Mark Cuban Blasts SEC’s Crypto Regulation, Advocates for Japan’s Approach

Mark Cuban Blasts SEC’s Crypto Regulation, Advocates for Japan’s ApproachBillionaire investor and “Shark Tank” star, Mark Cuban, has taken to social media to voice his concerns about the U.S. Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. In a series of posts, Cuban criticizes the SEC for stifling innovation and causing harm to businesses in the crypto industry. He contrasts the U.S. regulatory […]

Elon Musk, the world’s richest man, hits record $348B net worth

Mark Cuban Blasts Gary Gensler, Says SEC Chair Has Not Protected Single Crypto Investor Against Fraud

Mark Cuban Blasts Gary Gensler, Says SEC Chair Has Not Protected Single Crypto Investor Against Fraud

Billionaire Mark Cuban is calling out the chair of the U.S. Securities and Exchange Commission (SEC), saying that the regulatory agency has yet to protect a single crypto investor against fraud. In a new message on the social media platform X, the business magnate says SEC Chair Gary Gensler’s tough stance against the crypto industry […]

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Elon Musk, the world’s richest man, hits record $348B net worth

Billionaire Mark Cuban Warns Gensler’s SEC Crypto Policies Could Cost Biden the Election

Billionaire Mark Cuban Warns Gensler’s SEC Crypto Policies Could Cost Biden the ElectionBillionaire Mark Cuban has criticized U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s handling of crypto regulations, suggesting it could harm Biden’s election chances. “Gensler has not protected a single investor against fraud,” he stressed. “All he has done is make it nearly impossible for legitimate crypto companies to operate.” ‘This Is Also a […]

Elon Musk, the world’s richest man, hits record $348B net worth

Mark Cuban: Bitcoin Demand to Outpace Supply, BTC Is a Great Store of Value

Mark Cuban: Bitcoin Demand to Outpace Supply, BTC Is a Great Store of ValueBillionaire investor Mark Cuban, a minority owner of the National Basketball Association (NBA) team Dallas Mavericks, expects the price of bitcoin to go up due to the supply-demand dynamic. “I do feel that the demand is going to exceed the number of people selling,” he explained, adding that bitcoin is “a great store of value.” […]

Elon Musk, the world’s richest man, hits record $348B net worth

Billionaire Mark Cuban Says He’s Investing in Bitcoin (BTC) Over Gold ‘All Day Every Day’

Billionaire Mark Cuban Says He’s Investing in Bitcoin (BTC) Over Gold ‘All Day Every Day’

Shark Tank star and Dallas Mavericks minority owner Mark Cuban is saying that he prefers Bitcoin (BTC) as an investment over gold. In a new CNBC interview, the business magnate says that from an investment perspective, he views the crypto king as a better option and that he’s choosing BTC over gold “all day, every […]

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Elon Musk, the world’s richest man, hits record $348B net worth

Billionaire Shark Tank Star Mark Cuban Blasts SEC, Says the Regulator Fails To Protect Investors

Billionaire Shark Tank Star Mark Cuban Blasts SEC, Says the Regulator Fails To Protect Investors

Celebrity billionaire Mark Cuban thinks the U.S. Securities and Exchange Commission (SEC) doesn’t do an effective job of protecting investors. The Shark Tank star refers to the SEC as “the QuickBooks of Financial Regulation.” “They don’t protect anyone but they are really good at bookkeeping. Has the SEC ever moved in to protect investors BEFORE […]

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Elon Musk, the world’s richest man, hits record $348B net worth

Billionaire Mark Cuban Suffers $870,000 in Losses to a Crypto Hack: Report

Billionaire Mark Cuban Suffers 0,000 in Losses to a Crypto Hack: Report

Business magnate Mark Cuban has reportedly been hacked to the tune of hundreds of thousands of dollars worth of digital assets. According to a new report by DL News, the billionaire’s MetaMask wallet was hacked and 10 different crypto assets worth $870,000 were stolen from him. The report finds that Cuban had Ethereum (ETH), Lido […]

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Elon Musk, the world’s richest man, hits record $348B net worth

Mark Cuban’s loses $870K in hot wallet hack

Mark Cuban confirmed that he was hacked, but doesn’t appear to know exactly how it happened as of yet.

Nearly $900,000 worth of crypto was reportedly drained from one of the hot wallets belonging to billionaire investor and Dallas Mavericks owner Mark Cuban.

Independent blockchain sleuth @WazzCrypto was the first to spot the hack on Sept. 15 at around 8 PM UTC, after they highlighted suspicious behavior happening with one of Cuban’s wallets that the 65-year-old hadn’t interacted with for roughly five months.

According to the transaction history on Etherscan, several batches of assets such as USD Coin (USDC), Tether (USDT) and Lido Staked Ether (stETH) were suddenly withdrawn from the wallet within a 10- minute window.

Adding complexity to the matter, another $2 million worth of USDC was then also withdrawn and sent to a different wallet, leading WazzCrypto to suspect that Cuban may have just been moving assets around.

However, a few hours later Cuban then confirmed to DL News that he had gone on MetaMask for the first time in months, and vaguely suggested that the hacker or hackers may have been watching and waiting for a moment to pounce.

Cuban added that he had transferred any remaining assets to Coinbase Custody, essentially confirming that the $2 million USDC transaction was him.

Related: North Korean crypto hacks down 80%, but that could change overnight: Chainalysis

In terms of the hack, members of the community were quick to point out that as opposed to hackers watching Cuban’s activity, he must have done something that led to the security breach.

Some suggested that Cuban may have mistakenly signed a malicious transaction, while others asserted that his private key was compromised given that the funds were directly transferred out of the wallet.

Speculation on how Mark Cuban was hacked. Source: X

This is not the first time Cuban has taken a hit in the crypto market.

Back in June 2021, Cuban lost an unspecified amount of capital on what he called a “rug pull” after an algorithmic stablecoin project called Iron Finance imploded amid a supposed bank run.

Magazine: Hodler’s Digest, Aug. 27 – Sept. 2: SEC delays BTC ETF decision, Grayscale triumphs over SEC and BitBoy gets the boot

Elon Musk, the world’s richest man, hits record $348B net worth

Billionaire Mark Cuban Says NFT Marketplace OpenSea Making ‘Huge Mistake’ With New Royalty System

Billionaire Mark Cuban Says NFT Marketplace OpenSea Making ‘Huge Mistake’ With New Royalty System

Billionaire Mark Cuban says that prominent non-fungible token (NFT) marketplace OpenSea’s decision to disable its royalty system is a huge blunder. Earlier this week, OpenSea’s chief executive Devin Finzer announced that while creator fees will stick around, the unilateral enforcement of them would cease. According to Finzer, the move will better “reflect the principles of […]

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Elon Musk, the world’s richest man, hits record $348B net worth

Billionaire Mark Cuban Says Crypto a Better Option for Many Financial Activities – Here’s Why

Billionaire Mark Cuban Says Crypto a Better Option for Many Financial Activities – Here’s Why

Billionaire celebrity investor Mark Cuban thinks blockchain technology is a better option for traditional finance (TradFi) activities. The Dallas Mavericks owner tells his 8.8 million Twitter followers that crypto beats the traditional banking systems in a number of areas including security and efficiency. “Now let’s discuss traditional lending vs. crypto lending. It’s simply a matter […]

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Elon Musk, the world’s richest man, hits record $348B net worth