Mask Network Founder Suji Yan's Personal Wallet Hacked for $4 Million

Key Takeaways:

Suji Yan's crypto wallet was compromised, with stolen assets later transferred and converted into approximately 1,700 ETH.
The theft occurred while Yan attended a private gathering on his 29th birthday, raising alerts about offline attacks and unauthorized access to personal devices.
Blockchain security firms and law enforcement are investigating the breach to determine how the attack was carried out.
The incident exposes the risks of managing private keys on mobile devices and the vulnerabilities in self-custody security practices.
As crypto thefts increase, the need for stronger asset protection measures and alternative security models continues to grow.

Suji Yan, founder of Mask Network, reported the theft of over $4 million in cryptocurrency from his personal wallet on February 27, the same day as his 29th birthday.

I turned 29 yrs old today, 6 hours ago. Around 3 hours ago – one of my public wallet I carried on my phone was hacked and 4m$+ assets was stolen. All the stolen tx seems manual and span 11+ mins.

So either the private key was leaked same day as my birthday and hacker manual tsf… https://t.co/SkuIb2nrPf
— Suji Yan – Mask is BUIDLing (@suji_yan) February 27, 2025

In a social media post, he stated that the funds were personal and unrelated to his company or investment projects.

Yan Seeks Investigation as Stolen Funds Are Moved

Yan revealed that the theft occurred while he attended a private gathering with close friends.

His phone was briefly unattended during the event, raising concerns about a possible offline attack.

The transactions, carried out manually over an 11-minute period, suggest that the attacker had direct access to his private key.

Yan has contacted blockchain security firms and independent investigators to trace the stolen funds and determine how the breach occurred.

He is also cooperating with authorities and awaiting expert analysis before providing further updates.

Yan called on the perpetrator to confront him directly if the attack was conducted offline.

He stated that the crypto industry should not operate as a "dark forest" and expressed his determination to hold those responsible accountable.

"Thus, when Heaven is about to confer a great office on any man, it first exercises his mind with suffering, and his sinews and bones with toil. It exposes his body to hunger, and subjects him to extreme poverty," Yan responded to the hack, quoting Mencius.

"It confounds his undertakings. By all these methods it stimulates his mind, hardens his nature, and supplies his incompetencies," posted Yan.

Mask Network Founder Suji Yan's Personal Wallet Hacked for $4 Million

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Yan Seeks Investigation as Stolen Funds Are Moved

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