- Suji Yan, founder of Mask Network, has suffered a $4 million loss from his public crypto wallet during his birthday celebration
- The theft has occurred within an 11-minute window when Yan’s phone was briefly unattended at a private gathering
- The stolen assets have been swiftly converted to Ethereum (ETH) and dispersed across multiple addresses, complicating recovery efforts
Suji Yan, the founder of Mask Network, lost $4 million in a cryptocurrency hack last week while he was attending a birthday party. Yan’s phone was momentarily unattended at the event, during which time he says that multiple cryptocurrencies were transferred out, suggesting that his phone was physically compromised. The stolen funds have been quickly converted to ETH and distributed across several wallets, indicating a sophisticated laundering attempt.
Expensive Bathroom Break
Yan revealed the hack last week, explaining how he was attending his own 29th birthday party with some close friends, during which time approximately $4 million was stolen from one of his public wallets:
I turned 29 yrs old today, 6 hours ago. Around 3 hours ago – one of my public wallet I carried on my phone was hacked and 4m$+ 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
The compromised wallet contained a diverse array of cryptocurrencies, including 113 ETH, 923 WETH, 301 ezETH, 156 weETH, 90 pufET, 48,400 MASK tokens, 50,000 USDT, and 15 swETH. The hackers promptly converted these assets into ETH, totaling approximately 1,690 ETH, and dispersed them across six different addresses.
Yan Reaches Out
Yan has since noted that his phone was unattended for brief periods, such as when he used the restroom, suggesting that the phone could have been compromised in person. He expressed his distress on social media, stating, “I trust my friends, but this is a nightmare for anyone.”
Upon discovering the breach, Yan enlisted the assistance of blockchain security firms SlowMist and ZachXBT to trace the stolen funds and is also cooperating with law enforcement agencies to investigate the incident. Yan refrained from speculating further until experts provided more details, underscoring the need for accountability in the crypto industry.
The crypto community was nothing but supportive of Yan’s plight, with many expressing disbelief that a close friend might have been responsible for the theft.
