Mask Network Founder Suji Yan Issues 72-Hour Ultimatum to Hackers Following $4M Crypto Heist
March 3, 2025 – Crypto Security Faces Growing Threats
Suji Yan, the founder of Mask Network, has issued a 72-hour ultimatum to the hackers responsible for stealing approximately $4 million from his personal cryptocurrency wallet. The heist, which took place on February 27, 2025, has triggered an international response involving the FBI, Hong Kong Police, and Interpol. Yan has demanded the return of the stolen funds by March 5, 2025, offering leniency in exchange for compliance while warning of severe consequences if the hackers refuse.
Details of the $4M Crypto Heist⤵️
The attack targeted Yan’s personal wallet during a private gathering on his 29th birthday. Reports indicate that the breach may have involved physical access to his device or a compromised private key, leading to the theft of funds. The stolen crypto was quickly converted into Ethereum (ETH) and distributed across six separate wallet addresses, a technique commonly used to obscure transactions and evade tracking.
Cybersecurity experts, including SlowMist, Cyvers Alerts, and blockchain investigator ZachXBT, have been analyzing the breach, with some speculation pointing to state-sponsored groups like North Korea’s Lazarus Group—though no official confirmation has been made.
Yan’s Ultimatum to the Hackers⤵️
On March 2, 2025, Yan publicly addressed the hackers, giving them a clear deadline:
• Return the stolen $4 million within 72 hours (by March 5, 2025).
• If they comply, he will drop all legal actions, destroy evidence, and even offer a substantial bounty.
• If they refuse, he has warned of global law enforcement pursuit, wallet blacklisting, and legal consequences.
Yan has instructed the hackers to return the funds to his wallet and contact him directly at [email protected]. His direct and public approach reflects a growing trend of crypto leaders taking matters into their own hands when dealing with cybercriminals.
Law Enforcement and Global Response⤵️
Given the scale of the theft, international law enforcement agencies have stepped in:⤵️
• FBI: Actively investigating, particularly in light of the recent $1.5 billion Bybit hack linked to North Korean cybercrime.
• Hong Kong Police & Interpol: Coordinating efforts to track the movement of stolen funds across exchanges and block transactions linked to hacker-controlled wallets.
Authorities have already identified suspicious blockchain addresses and are working with major exchanges to freeze or monitor transactions involving the stolen assets. The FBI’s growing involvement in crypto-related crimes highlights the increasing prioritization of digital asset security at the international level.
Market and Community Reaction ⤵️
The crypto community has responded with mixed reactions, ranging from sympathy for Yan to concern over rising cyber threats. Discussions on X (formerly Twitter) highlight key questions:
• Will the hackers return the funds? Some analysts believe state-backed hackers may ignore the ultimatum due to their expertise in laundering stolen assets.
• Can law enforcement recover the stolen crypto? While tracking funds on-chain is possible, recovering them remains a challenge unless exchanges or intermediaries cooperate.
• Does this set a precedent for handling crypto hacks? Yan’s direct negotiation approach mirrors past cases where victims have offered bounties or negotiated returns, though such tactics remain controversial.
With rising high-profile hacks—including the Bybit exploit and several DeFi protocol breaches in early 2025—this incident raises urgent questions about crypto security, the effectiveness of law enforcement, and whether self-custody is as safe as once believed.
What Comes Next?
As the March 5 deadline approaches, the crypto industry is closely watching whether:
• The hackers comply and return the funds.
• Law enforcement makes progress in tracking or freezing the stolen assets.
• This case influences how future crypto breaches are handled.
Regardless of the outcome, this incident underscores the ongoing battle between crypto security and cybercrime, reinforcing the need for stronger security measures in the industry.
