Cyvers Alerts detected suspicious transactions linked to Suji Yan’s wallet, the wallet of the founder of Mask Network, on February 27, 2025.
The suspicious transactions linked to Yan’s wallet have resulted in a loss of nearly $4 million in digital assets, quickly converted to Ethereum (ETH) and distributed across six different wallet addresses.
Birthday Celebration Turned $4 Million Hack
Suji Yan made a social media announcement regarding his 29th birthday celebration.
There is speculation that his announcement, combined with a brief absence from his phone during a private party, provided an opportunity for an offline attack. Alternatively, the private key leaked on the same day.
The suspicious address received a diverse portfolio of cryptocurrencies, including:
- 113 ETH (valued at over $265,000)
- 923 WETH (Wrapped Ethereum)
- 301 ezETH
- 156 weETH
- 90 pufET
- 48,400 MASK tokens
- 50,000 USDT (Tether)
- 15 swETH
The hack of a prominent crypto figure raises concerns and reignites discussions about the importance of robust security measures, especially for high-profile individuals and projects in the blockchain ecosystem.
What’s Next for MASK Network?
Nearly a week ago, Bybit experienced a similar attack worth $1.47 billion attributed to North Korea’s notorious Lazarus Group. In addition to Suji’s incident, this case showcases the troubling trend of increased cyber attacks in the cryptocurrency sector.
In the past three months, the MASK Network token value has already declined by nearly 50%. Worse still, this incident may cause further price pressure.
Currently, Suji has contacted the SlowMist Team and ZachXBT to help the investigation in cooperation with authorities and agencies.
These hacks emphasize the importance of robust security measures and vigilant practices as the industry grows and attracts more mainstream attention.
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