Key Points:
- Mask Network founder Suji Yan reported that his public wallet was hacked, resulting in a $4 million loss.
- The stolen assets included ETH, WETH, ezETH, weETH, pufET, MASK, USDT, and swETH.
- The funds were swapped to ETH and dispersed across multiple wallets following the breach.
Suji Yan, founder of Mask Network , announced on February 27 that his public wallet was hacked, resulting in a loss of approximately $4 million. The incident occurred just hours after his 29th birthday, and he revealed that all stolen transactions were manual transfers lasting over 11 minutes.
Yan suggested two possible causes: either his private key was compromised, or the theft was carried out through an offline attack while he was attending a private gathering. He stated that he has reached out to cybersecurity experts, including SlowMist and ZachXBT, and is cooperating with law enforcement in the ongoing investigation.
Details of the Stolen Assets
According to on-chain security platform Cyvers, the stolen funds included:
- 113 ETH (over $265,000)
- 923 WETH
- 301 ezETH
- 156 weETH
- 90 pufET
- 48,400 MASK tokens
- 50,000 USDT
- 15 swETH
After the initial hack, the stolen assets were swapped to ETH and transferred across six different wallet addresses. One of the flagged addresses involved in the laundering process ends in “df7.”
Growing Cybersecurity Concerns in Crypto
The hack of Suji Yan’s wallet is part of an ongoing trend of high-profile Web3 security breaches. Meir Dolev, co-founder of Cyvers, commented that this case highlights the growing sophistication of hackers and the importance of real-time transaction monitoring and rapid response systems.
This incident follows other major hacks in February, including the $1.4 billion Bybit exploit on February 21 and the Pump.fun social media breach on February 26. The increasing frequency of such attacks has raised concerns about security vulnerabilities in the crypto space and the need for stronger asset protection measures.
