Ethereum News: Mercuryo Launches Everstake On-Ramps for Staking Amidst Growing Demand, Mask Network Faces Security Breach

In the latest developments in the Ethereum ecosystem, Mercuryo, a prominent payment infrastructure provider, has announced a new on-ramp service for Everstake, catering to the soaring demand for Ethereum staking. However, the crypto space also witnessed a security breach as Mask Network’s founder’s wallet was drained. Here’s a closer look at these events.

Mercuryo Unveils ‘Everstake’ On-Ramps for Ethereum Staking

Mercuryo, a leading payment infrastructure company, has recently unveiled an exclusive on-ramp service for Everstake, a prominent forum for blockchain and staking solutions. This move is to meet the growing demand for Ethereum staking. The platform’s on-ramps enable consumers to access a wide range of staking services, guaranteeing high uptime via its resilient global infrastructure.

Mask Network’s Founder’s Wallet Drained, Funds Swapped to Ethereum

The wallet of Mask Network’s founder, Suji Yan, has been drained, with all funds swapped to Ethereum (ETH). An estimated $4M were stolen from a mobile wallet labeled Sujiyan.eth or kmt.eth. The funds were split into six new wallets, possibly in preparation for mixing or further swaps. Yan suspects a manual attack occurred while he left his phone unattended for a while. The hacker took only the largest balances, mostly on the Ethereum network.

SEC Ends Investigation into Consensys Blockchain Company

The Securities and Exchange Commission (SEC) is ending their investigation into Consensys Blockchain software, the parent company of MetaMask. The two sides have reportedly reached an agreement in principle to end the agency’s lawsuit. The dismissal is subject to approval by the commission. According to Joseph Lubin, co-founder of Ethereum and Consensys, the SEC will file a stipulation with the court that effectively closes the case. Consensys was committed to fighting until the end but is pleased with this outcome.

Mask Network Founder Suji Yan’s Personal Wallet Hacked for $4 Million

Suji Yan, the founder of Mask Network, reported a theft of over $4 million in cryptocurrency from his personal wallet. The stolen assets were later transferred and converted into approximately 1,700 ETH. The theft occurred while Yan attended a private gathering on his 29th birthday, raising alerts about offline attacks and unauthorized access to personal devices. Blockchain security firms and law enforcement are investigating the breach. The incident highlights the risks of managing private keys on mobile devices and the vulnerabilities in self-custody security practices. As crypto thefts increase, the need for stronger asset protection measures and alternative security models continues to grow.