Mask Network’s CEO, Suji Yan, recently announced that his public wallet had been hacked, resulting in the theft of approximately $4 million in crypto. This unfortunate incident occurred just hours after celebrating his 29th birthday with friends.

Incident Details

According to Yan, the attack lasted around 11 minutes, during which time his phone was left unattended for a brief period. He suspects that either his private key was leaked or that his device was compromised during the gathering.

I was in a private gathering with a dozen friends, and my phone was away for some minutes when I was using the restroom, etc. I trust my friends, but this is a nightmare to anyone.

Stolen Funds

The stolen funds consisted of various cryptocurrencies, including Ethereum (ETH), Wrapped Ethereum (WETH), Mask (MASK), and Tether (USDT). Blockchain analytics firms, such as Cyvers Alerts and ZachXBT, detected suspicious transactions linked to Yan’s wallet, revealing that the stolen funds were transferred to a new address before being swapped for 1,690 Ethereum and dispersed across six wallets.

Investigation and Response

Yan has enlisted the help of security firms SlowMist and ZachXBT to investigate the incident and is cooperating with authorities. He has stated that he will not speculate further until experts provide more details.

Tips for protecting your crypto wallet:

  • Always keep your private key secure and never share it with anyone.
  • Use strong passwords and enable two-factor authentication (2FA) whenever possible.
  • Regularly update your wallet software and operating system to ensure you have the latest security patches.
  • Be cautious when using public Wi-Fi or unsecured networks to access your wallet.

Stay up-to-date with the latest cryptocurrency news and security tips on Global Crypto News.

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