Mark Cuban Unloads NFT Collection Worth Over $100K Amid Gmail Account Hack

Billionaire investor and Shark Tank star Mark Cuban sold more than 14 NFTs for more than $38,500 amid a hacker taking control of his Gmail account.

The 65-year-old investor was visa selling his Pudgy Penguins NFT #6239 for over $30,000 at the time of 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 last 2 days included plays like EulerBeats Genesis and DeepBlack NFTs for EtherIslands and Wrapped MoonCats for prices ranging from $22 to $1,846.

Some NFTs sold by Mark Cuban | Source: Open sea

In addition to these sales, on June 24, Cuban also listed two more premium NFTs that he intends to sell. This includes 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 worth of NFTs in a 2-day period.

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

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

On June 23, Cuban turned to X to report that his Gmail account had been compromised following a misleading call.

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

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

On June 25, Cuban regained control of his account and publicly thanked the Google team at X for their assistance in the recovery process.

Although the hack and the sale of NFTs through the Cuban wallet occurred on the same day, the link between the two remains unclear.

Since the NFT boom of 2021, Cuban has been a main supporter of NFTsmaking substantial investments in projects and platforms including CryptoSlam and Mintable.

Cuban remained optimistic about NFTs in late 2023, telling collectors to buy for love and not speculation.

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

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

Meanwhile, the wider The NFT market has suffered a significant downturnreflecting a broader cooling in enthusiasm and investment in this digital asset space.

According to data compiled by CryptoSlam, the total NFT sales volume in the last 30 days it was US$485 million, representing a substantial drop of more than 48%.

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

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