{"id":37508,"date":"2025-02-27T22:00:24","date_gmt":"2025-02-27T19:00:24","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=37508"},"modified":"2025-02-27T17:50:24","modified_gmt":"2025-02-27T14:50:24","slug":"suspicious-outflows-detected-from-wallet-linked-to-mask-network-founder","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/suspicious-outflows-detected-from-wallet-linked-to-mask-network-founder\/","title":{"rendered":"Suspicious Outflows Detected from Wallet Linked to Mask Network Founder"},"content":{"rendered":"<p>According to<strong> Cyvers Alerts, Mask Network founder Suji Yan\u2019s account was hacked<\/strong>, and <a href=\"https:\/\/coinengineer.net\/blog\/pakistan-to-establish-council-to-oversee-crypto-policies\/\"><strong>$4 million worth of cryptocurrency<\/strong><\/a> was sent to a suspicious address.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/suspicious-outflows-detected-from-wallet-linked-to-mask-network-founder\/#4M_Outflows_Detected_from_Wallet_Linked_to_Mask_Network_Founder\" title=\"$4M Outflows Detected from Wallet Linked to Mask Network Founder\">$4M Outflows Detected from Wallet Linked to Mask Network Founder<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/suspicious-outflows-detected-from-wallet-linked-to-mask-network-founder\/#Crypto_Sector_Faces_Growing_Cybersecurity_Threats\" title=\"Crypto Sector Faces Growing Cybersecurity Threats\">Crypto Sector Faces Growing Cybersecurity Threats<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"0\" data-end=\"70\"><span class=\"ez-toc-section\" id=\"4M_Outflows_Detected_from_Wallet_Linked_to_Mask_Network_Founder\"><\/span>$4M Outflows Detected from Wallet Linked to Mask Network Founder<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"72\" data-end=\"182\">On February 27, <strong>Cyvers<\/strong> detected suspicious outflows from an address linked to <strong>Mask Network founder Suji Yan.<\/strong><\/p>\n<p data-start=\"184\" data-end=\"318\">According to Cyvers, nearly $4 million worth of cryptocurrency, primarily<strong> Ether-linked tokens,<\/strong> was transferred to flagged addresses.<\/p>\n<p data-start=\"184\" data-end=\"318\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-149644 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/02\/mask.jpg\" alt=\"mask\" width=\"1942\" height=\"1257\" \/><\/p>\n<p data-start=\"320\" data-end=\"476\">The suspected stolen assets included <strong>113 ETH worth $265,000 at the time, 923 WETH, 301 ezETH, 156 weETH, 90 pufET, 48,400 MASK, 50,000 USDt, and 15 swETH.<\/strong><\/p>\n<p data-start=\"478\" data-end=\"658\">Following the initial breach, the funds were converted into <strong>ETH<\/strong> and moved through six different wallet addresses, one of which ends in \u201cdf7.\u201d <strong>Cyvers co-founder Meir Dolev stated:<\/strong><\/p>\n<blockquote>\n<p data-start=\"660\" data-end=\"873\">\u201cThis incident highlights the increasing sophistication of threat actors in the Web3 space and emphasizes the urgent need for real-time transaction monitoring, proactive prevention, and rapid incident response.\u201d<\/p>\n<\/blockquote>\n<h2 data-start=\"875\" data-end=\"934\"><span class=\"ez-toc-section\" id=\"Crypto_Sector_Faces_Growing_Cybersecurity_Threats\"><\/span>Crypto Sector Faces Growing Cybersecurity Threats<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"936\" data-end=\"1096\">Forensic investigations into the <strong>Bybit<\/strong> hack suggest it resulted from compromised credentials of a <strong>SafeWallet<\/strong> developer, specifically targeting the Bybit team.<\/p>\n<p data-start=\"1098\" data-end=\"1334\">According to the Safe team, the exploit did not compromise front-end services or smart contract code. Instead, hackers manipulated the system to execute seemingly legitimate transactions, diverting funds to a separate hardware wallet.<\/p>\n<p data-start=\"1336\" data-end=\"1533\"><strong>Martin K\u00f6ppelmann, co-founder of the Gnosis blockchain network<\/strong>, which developed and later spun off Safe, said he could only speculate on how hackers deceived multiple signers from the Bybit team.<\/p>\n<p data-start=\"1535\" data-end=\"1666\" data-is-last-node=\"\" data-is-only-node=\"\"><strong>Lazarus Group<\/strong> is strongly suspected of being behind the attack, strategically avoiding <strong>Safe<\/strong> product users to conceal their methods.<\/p>\n<hr \/>\n<p data-start=\"1535\" data-end=\"1666\" data-is-last-node=\"\" data-is-only-node=\"\"><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong>\u00a0 ,<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest <a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Cyvers Alerts, Mask Network founder Suji Yan\u2019s account was hacked, and $4 million worth of cryptocurrency was sent to a suspicious address. $4M Outflows Detected from Wallet Linked to Mask Network Founder On February 27, Cyvers detected suspicious outflows from an address linked to Mask Network founder Suji Yan. According to Cyvers, nearly<\/p>\n","protected":false},"author":29,"featured_media":37513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[12293,12291,12294,12292,12295],"class_list":["post-37508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-4-million-worth-of-cryptocurrency","tag-cyvers-alerts","tag-ether-linked-tokens","tag-mask-network-founder-suji-yan","tag-safewallet"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Suspicious Outflows Detected from Wallet Linked to Mask Network Founder - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/suspicious-outflows-detected-from-wallet-linked-to-mask-network-founder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suspicious Outflows Detected from Wallet Linked to Mask Network Founder - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"According to Cyvers Alerts, Mask Network founder Suji Yan\u2019s account was hacked, and $4 million worth of cryptocurrency was sent to a suspicious address. $4M Outflows Detected from Wallet Linked to Mask Network Founder On February 27, Cyvers detected suspicious outflows from an address linked to Mask Network founder Suji Yan. 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