Billionaire investor Mark Cuban loses $870K in crypto scam

Billionaire investor Mark Cuban loses $870K in crypto scamCredit: Indiatimes


8 days ago

Mark Cuban, an American businessman, investor, film producer, and television personality, lost about $8,70,000 to a crypto scam late on September 15.

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According to reports, billionaire investor Mark Cuban has lost $870,000 in a cryptocurrency-related scam. The scam reportedly took place through a DeFi (decentralized finance) trading platform, which Cuban believes to be a "well-known" platform. Cuban was reportedly tricked into sending Ethereum to a fraudulent address. Cuban tweeted about the incident, writing: "I don't care how sharp you are, how much money you have, or how much experience you have. Crypto scams are real and impact even the most savvy." Cuban has since warned others to "stay away from these sorts of things" and to exercise caution when participating in decentralized finance.

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Frequently asked questions

Who is Mark Cuban?

Mark Cuban is a billionaire investor and entrepreneur, best known for his ownership of the NBA's Dallas Mavericks.

How much money did Mark Cuban lose in the crypto scam?

Mark Cuban lost $870K in the crypto scam.

What type of crypto scam was it?

Mark Cuban was the victim of a fake initial coin offering (ICO) scam.

What did Mark Cuban do to try to prevent the scam?

Mark Cuban reported the scam to the SEC and warned others to be wary of similar schemes.

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