Mask Network, a decentralized social media platform that connects to Twitter and Facebook, was founded in 2018 by Suji Yan. Most recently, it raised a $5 million investment from DWF Labs. Immediately after the partnership was announced, the price of MASK shot up by nearly 130%. It then rocketed up by 14% to an extraordinary $1.21! Our joint goal is to help make decentralized social media a viable and safe alternative to the current popular platforms.
Mask Network lets users easily access Web3 features with the click of a button. You’ll have access to encrypted messaging, NFT marketplaces, and DeFi – even from your favorite social media platforms. Their mission is to create public, open-source decentralized social infrastructure.
Mask Network will profit from its association with DWF Labs. This partnership will provide the capacity and infrastructure required to develop the platform further and expand its audience. DWF Labs' managing partner Andrei Grachev highlighted Mask Network's potential in the decentralized social media space.
"Has consistently demonstrated both vision and execution in this space." - Andrei Grachev
The investment comes as Mask Network founder Suji Yan deals with the aftermath of a $2 million hack. He is fighting vigorously to contain the fallout from this unfortunate episode. On February 28, hackers compromised Yan’s public crypto wallet and stole more than $4 million worth of cryptocurrency assets.
The attack—which lasted less than 11 minutes—took place less than half a day after Yan’s 29th birthday party. Yan suspects that either a private key leak or an offline attack during the gathering led to the compromise, noting that his phone was briefly unattended.
The hack was a serious blow for Mask Network, but the team has not given up. They’re absolutely dedicated to their mission of bringing decentralized social media to as many people as possible. The partnership with DWF Labs and the subsequent price surge of MASK tokens indicate continued confidence in the project's vision and potential.
