Mark Cuban lost $870,000 worth of crypto in hack

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Mark Cuban has lost $870,000 in a hack; FTX reopens claims portal after security issue resolved; Ukraine announces $80 million loss due to tax evasion!

Mark Cuban’s crypto wallet was hacked!

Billionaire investor and Dallas Mavericks owner Mark Cuban’s crypto wallet worth around $900,000 has been stolen. 

Blockchain researcher Wazz noticed suspicious transactions in Cuban’s wallet, which had not been traded for five months. Wazz was the first to notice the attack.

According to the transaction history on Etherscan, USDC, USDT and stETH assets were withdrawn in less than 10 minutes. 

To make matters worse, USDC worth $2 million was withdrawn and sent to another wallet. This led Wazz to suspect that Cuban was moving his assets.

Cuban confirmed to DL News a few hours later that he had logged into MetaMask for the first time in months, suggesting that the hackers may have been waiting for him. 

Cuban confirmed that he had transferred his remaining assets to Coinbase Custody and that $2 million USDC was his.

Mark Cuban has lost $870,000 in a hack; FTX reopens claims portal after security issue resolved; Ukraine announces $80 million loss due to tax evasion!

Community members suspect that Cuban may have made a false transaction.

Some users suggested that Cuban may have inadvertently signed a malicious transaction, while others suggested that private keys were compromised.

Cuban has been the victim of hacking before.

In June 2021, Cuban lost an undetermined amount of capital due to a rug pull after an algorithmic stablecoin project called Finance imploded.

FTX reopens claims portal after security issue resolved

FTX has announced that the claims portal has been reopened following the resolution of the security issue.

Read more:  FTX spends $53,000 per hour on bankruptcy fees

Following the cyber-attack on Kroll, the company managing creditors’ claims in relation to the FTX bankruptcy, FTX customers’ accounts were frozen. Once the issue was resolved, the accounts were reopened. 

Accounts closed for security reasons

According to The Block, FTX stated that the reason for freezing customer accounts were “precautionary measures”. The company noted that additional security measures had been implemented on the platform. 

Kroll announced in August that it had suffered a SIM swapping attack. It said the attacker had gained access to some files containing the personal information of customers who had applied for FTX, Genesis and BlockFi. Kroll said that the accounts of affected users have been frozen and stressed that FTX passwords and KYC information were not exposed as a result of the attack.

FTX customers have until 29 September to provide proof of their claims. 

However, there was good news for creditors recently. The judge allowed FTX to sell its digital assets. 

Although the decision that the exchange can sell its digital assets is causing panic in the crypto community, bitcoin and other altcoins are not being significantly affected for now.

Mark Cuban has lost $870,000 in a hack; FTX reopens claims portal after security issue resolved; Ukraine announces $80 million loss due to tax evasion!

Ukraine announces $80 million loss due to tax evasion!

It has been discovered that unregulated cryptocurrency exchanges in Ukraine have caused a loss of $80 million due to tax evasion.

According to Crypto Potato, the Ukrainian Economic Security Bureau (ESB) has begun investigating local cryptocurrency exchanges. 

Read more:  Bitcoin hits $44,000! Is it bull season?

Ukrainian regulators had signed a decision to impose an 18% tax on crypto profits from 2024. The country’s administration is trying to harmonize crypto regulations with the European Union’s MiCA legislation.

ESB President Andriy Pashchuk pointed out in an interview with Forbes Ukraine that the investigation is focused on local platforms. Pashchuk noted that ESB analysts use services such as Chainaliz and Crystal Blockchain to track crypto transactions. 

ESB also uses open source intelligence to monitor cryptocurrency turnover.

In August 2023, ESB released a statement saying that cryptocurrency exchanges in Ukraine had generated $445 million in transaction fees over the past decade. The total value of transactions amounted to $55 billion.

Pashchuk said that there are different opinions on the taxation of transactions, noting that the institution will act in the direction of the decision to be taken by the deputies. 

Ukrainian President Vladimir Zelenski signed a law on cryptocurrencies in March 2022.

Mark Cuban has lost $870,000 in a hack; FTX reopens claims portal after security issue resolved; Ukraine announces $80 million loss due to tax evasion!

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