Billionaire investor and Shark Tank star Mark Cuban has sold over 14 NFTs for more than $38,500 amid a security breach involving his Gmail account.

The 65-year-old investor sold his Pudgy Penguins NFT #6239 for over $30,000, according to his OpenSea wallet under the Ethereum Name Service (ENS) domain “markcuban.eth.” Other notable NFTs sold by Cuban in the past two days include EulerBeats Genesis, DeepBlack NFTs, EtherIslands, and Wrapped MoonCats, with prices ranging from $22 to $1,846.

Besides these sales, Cuban listed two more premium NFTs on June 24. These include his Dallas Mavericks-themed Proof of Culture NFT for 15 ETH, worth $50,331 at the time of writing, and a BibleNFT called Deuteronomy 25:4, for another $16,777. If these sales go through, Cuban will have sold over $100,000 in NFTs within two days.

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

Security Incident

The latest NFT sales from Cuban’s wallet coincide with a security incident. On June 23, Cuban reported on social media platform X that his Gmail account was compromised following a deceptive call. An individual named “Noah” falsely claimed there was an intruder and mimicked Google’s recovery procedures. Cuban warned, “If anyone receives anything from mcuban@gmail.com after 3:30 pm PST, it’s not from me.”

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

A thank you to Google for your help in getting my account back. Truly appreciate all you did. — Mark Cuban (@mcuban), June 24, 2024

Although the hack and the NFT sales occurred on the same day, the connection between the two remains unclear.

Mark Cuban and NFTs

Since the NFT boom in 2021, Cuban has been a strong advocate for NFTs, making substantial investments in projects and platforms. Cuban continued to be optimistic about NFTs in late 2023, advising collectors to purchase out of passion rather than speculation. He drew comparisons between the initial challenges faced by tech giants like Amazon and Microsoft and the current state of the NFT market, suggesting similar potential for growth.

The sale of Cuban’s NFTs also coincided with a significant drop in the floor price of Bored Ape Yacht Club (BAYC) NFTs, which fell below 10 ETH last week. This has generated speculation regarding the timing and motivations for his sales. The wider NFT market has experienced a downturn, reflecting a broader cooling off in enthusiasm and investment within this digital asset space. According to data, the total volume of NFT sales in the last 30 days is $485 million, representing a substantial slump of over 48%.

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

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