Mark Cuban Loses $870k in Crypto Scam

Scams in crypto market is not something new because we keep on hearing a lot of scams going on here and people lose money because of these practices. The scammers are advanced and they tried different ways to loot people and get their hard earned money. It is always recommended to be more careful but sometimes even without negligence that can be something to make us loose. Hacking is another problem here and we don't know if we can be part of it so staying active and vigilance and help us to avoid this situation.

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Mark Cuban who is known a tech billionaire has lost almost $870k and it's because of a fake version of Metamask wallet. Many of use metamask wallet which is a non custodian wallet and considered to be highly secure. It is secure provided the keys are not exposed and even we have downloaded the legit version of the wallet in system else things can go other way around.

Cuban told DL News that he had searched for information on Circle, a company in the midst of widespread expansion, and ended up downloading what he thought was MetaMask—but the application “had shit in it.”

We need to be extra careful while downloading and installing these wallet extensions because if we stop by any fake version of the application then we might end up using money. This is not a good situation because the amount in lost the big but there is least possibility to get this money back. Cuban is a crypto enthusiastic and he has talked about it in the open about it. We surely need more people who supports crypto and they're popular faces so it does bring positive impact.

Losing money is a never good experience and I also had issues with my metamask wallet so I lost few hundred dollars last year. When I did not know how did it happen because I never shared my keys on public and did not even transacted on any platform which is not liable but that was the time when I see lot of people using their money so I just don't keep my friends in this wallet. I use the wallet but this is just for the transaction purpose and I do not keep any fund in the because I don't find it secure. It is understood when people lose because of their mistakes but there was a time when the metamask uses lost money without doing anything.

There are scammers around who wants to take our money out from the crypto wallets so we need to be extra careful and should not be responding on anything that we are not sure of. I think hive is still better in terms of security because our tokens are locked with 13 weeks power down period. It is difficult for anyone to get the access unless keys are not shared but even if someone does then also we have the option to stop it since the entire process going to take 13 weeks. If we are an active user on this platform then there is high possibility that the entire money will not be taken out. I like this mechanism of hive and this is built for our fund's safety.

Thank you

Posted Using LeoFinance Alpha