Mask Network Founder's $4M Crypto Heist: 11-Minute Hack

Mask Network Founder's Mobile Wallet Hacked, Theft Transaction Lasted Over 11 Minutes

On February 27th, Mask Network founder Suji Yan reported that his mobile wallet was hacked, resulting in the theft of over $4 million worth of assets. The transactions, which appeared to be manual operations, lasted for over 11 minutes. Yan believes that either his private key was leaked or it was an offline attack. He was at a private gathering with friends when the incident occurred and had left his phone unattended briefly.

Yan has contacted SlowMist and Zachxbt for assistance in the investigation and is cooperating with relevant institutions and law enforcement. He has not disclosed more information until the results from these experts are available. He hopes that if this was an offline attack, the hacker would confront him directly, stating that cryptocurrency should not be a dark forest.

This incident highlights the importance of security in the crypto world. As cryptocurrencies continue to gain popularity, so do the risks associated with them. It is crucial for users to take necessary precautions to protect their assets, such as using secure wallets and keeping their private keys safe.

In response to this incident, some experts have suggested that users should be more vigilant when it comes to their digital assets. They recommend using hardware wallets, enabling two-factor authentication, and being cautious about sharing personal information online. Additionally, users should be aware of phishing attempts and other scams that target cryptocurrency users.

As the crypto industry continues to evolve, it is essential to stay informed about the latest security measures and best practices. By doing so, users can better protect their assets and contribute to the overall security of the crypto ecosystem.