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Mark Cuban offloads NFT collection worth over $100K amid Gmail account hack

News
Mark Cuban offloads NFT collection worth over $100K amid Gmail account hack

Billionaire investor and Shark Tank star Mark Cuban has sold over 14 NFTs for over $38500 amid a hacker taking over his Gmail account.

The 65-year-old investor was seen selling his Pudgy Penguins NFT #6239 for over $30,000 at the time of the sale, according to one of his OpenSea wallets with the Ethereum Name Service (ENS) domain “markcuban.eth.”

Other notable NFTs that Cuban sold in the past 2 days included pieces such as EulerBeats Genesis and DeepBlack NFTs to EtherIslands and Wrapped MoonCats for prices ranging from $22 to $1846.

Mark Cuban offloads NFT collection worth over $100K amid Gmail account hack - 1
A few NFTs sold by Mark Cuban | Source: OpenSea

Besides these sales, on June 24, Cuban also listed two more premium NFTs that he plans to sell. These include his Dallas Mavericks-themed Proof of Culture NFT for 15 ETH worth $50,331 at the time of writing and BibleNFT called Deuteronomy 25:4, for another $16,777.

If the sales go through, Cuban will have sold over $100,000 in NFTs within a period of 2 days.

Meanwhile, OpenSea data indicates that Cuban’s wallet, identified as one of two belonging to the Dallas Mavericks NBA franchise owner, currently still holds about 1,600 items. The extensive collection of NFTs is valued at more than 1,900 ETH, or around $6.2 million.

The latest dumping of NFTs from Cuban’s wallet comes amid a security incident linked to the billionaire.

On June 23, Cuban took to X to report that his Gmail account was compromised following a deceptive call.

In the post, he said that an individual named “Noah” falsely claimed there was an intruder and mimicked Google’s recovery procedures.

Cuban warned, “If anyone receives anything from [email protected] after 3:30 pm PST, it’s not from me.”

By June 25, Cuban had regained control of his account and publicly thanked Google’s team on X for their assistance in the recovery process.

Although the hack and the sale of NFTs via Cuban’s wallet occurred on the same day, the connection between the two remains murky.

Since the NFT boom in 2021, Cuban has been a leading advocate for NFTs, making substantial investments in projects and platforms, including CryptoSlam and Mintable.

Cuban continued to be bullish about NFTs in late 2023, telling collectors to purchase out of love and not on speculation.

He also drew comparisons between the initial challenges faced by now-thriving tech giants such as Amazon and Microsoft and the current state of the NFT market, suggesting similar potential for growth.

The sale of Cuban NFTs also occurred at the same time as the floor price of Bored Ape Yacht Club (BAYC) NFTs dropped significantly, falling below 10 ETH last week. This context has generated speculation regarding the timing and motivations for his sales.

Meanwhile, the wider NFT market has experienced a significant downturn, reflecting a broader cooling off in enthusiasm and investment within this digital asset space.

According to data compiled by CryptoSlam, the total volume of NFT sales in the last 30 days is $485 million, representing a substantial slump of over 48%.

Cuban’s moves may be interpreted as a reaction to current market conditions or as a calculated move within his larger investment portfolio.

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