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crypto.news 2025-02-27 14:52:22

Crypto hack: Mask Network CEO loses $4m in 11 minutes

Mask Network CEO Suji Yan revealed that his public wallet was hacked, resulting in the theft of over $4 million in crypto. The attack, which lasted approximately 11 minutes, occurred just hours after his 29th birthday celebration. Yan suspects either a private key leak or an offline attack during the gathering, where his phone was briefly unattended. “I was in a private gathering with dozen friends and my phone was away for some minutes when I using the restroom etc,” Yan tweeted . “I trust my friends but this is a nightmare to anyone.” 🚨ALERT🚨Our AI-powered system has detected suspicious transactions linked to @suji_yan , founder of @realMaskNetwork ! A suspicious address received nearly $4M in digital assets, including: 💰 113 $ETH 💰 923 $WETH 💰 301 $ezETH 💰 156 $weETH 💰 90 $pufET 💰 48.4K $MASK 💰 50K… pic.twitter.com/G8iCUzjJFV — 🚨 Cyvers Alerts 🚨 (@CyversAlerts) February 27, 2025 On-chain data from blockchain analytics firms, including Cyvers Alerts and ZachXBT, show that the stolen funds — comprising ETH, WETH, MASK, and Tether ( USDT ) — were transferred to a new address before being swapped for 1,690 Ethereum ( ETH ) and dispersed across six wallets. Yan has enlisted security firms SlowMist and ZachXBT to assist with the investigation and is cooperating with authorities. He stated that he would not speculate further until experts provide more details. You might also like: Bitcoin’s proxy stock is collapsing – Is Strategy headed for a forced liquidation?