Suji Yan, founder of the Web3 browser extension Mask, has suffered a major security breach, losing $4 million in cryptocurrencies.
The attack, which targeted a public wallet on his phone, took place within an 11-minute window while Yan was away from his device. The stolen funds, including ETH, USDT, WETH, and MASK, were quickly moved to multiple addresses, converted to Ethereum, and redistributed.
Yan, who was celebrating his birthday at the time, suspects a possible private key leak but has not ruled out an offline attack. He has enlisted security experts from SlowMist and ZachXBT to track the stolen assets and is working with law enforcement to investigate the breach.
Unlike recent high-profile hacks, such as the Bybit incident, Yan believes this was not caused by malicious code but rather a breach of trust.
As the crypto community grapples with a series of security breaches, market confidence remains shaken, with Bitcoin’s price struggling to regain momentum. This breach highlights ongoing vulnerabilities within the crypto space, raising concerns about the security of private wallets and the trust placed in personal devices.
Many in the industry are calling for stronger security protocols and more vigilance as cyberattacks on high-profile figures and firms continue to rise.
An extensive international cybercrime network has been brought down after law enforcement seized 145 domains linked to BidenCash, a notorious online marketplace that thrived on trading stolen credit card data and compromised digital identities.
Hackers in the crypto world are changing course, moving away from exploiting smart contracts and turning their focus toward tricking users directly.
Coinbase is now facing mounting scrutiny after it allegedly sat on a serious data breach for over four months, exposing the personal information of nearly 70,000 users before taking action.
A major security lapse has rocked Taiwan-based crypto exchange BitoPro, which quietly suffered an $11.5 million hack earlier in May but failed to alert users for weeks.