MASK price surges 14% following $5m purchase by DWF Labs

The Crypto DWF Labs market manufacturer joins Mask Network in a $ 5 million token agreement to push decentralized social media in the dominant current.

The cryptocurrency market manufacturer and investor DWF Labs has invested $ 5 million in Mask Network, a decentralized social platform Ponting Web2 and Web3, as part of its efforts to support Internet technologies belonging to users.

In a Wednesday blog adAndrei Grachev, the general partner of DWF Labs, explained that the decision to support the network of masks occurs while the project “has always demonstrated both vision and execution in this space”. After the announcement, the price of the mask (MASK) increased by 14% to $ 1.21, according to data from the Crypto.News price monitoring page.

Founded in 2018 by Suji Yan, Mask Network allows users to access web3 features such as encrypted messaging, Non -pounded tokensAnd Decentralized finance directly via existing social platforms. Before DWF Labs, the project also obtained funding for investors such as Animoca Brands, Digital Currency Group and Longling Capital.

DWF Labs described the “strategic investment” agreement, Yan adding that the company brings “more than capital to the table” because it brings “global connectivity, the depth of the ecosystem and a long -term state of mind”.

At the end of February, Yan revealed That his public portfolio was hacked, which led to a flight of more than $ 4 million in crypto. The attack, which lasted about 11 minutes, occurred just a few hours after its 29th birthday celebration. Yan suspects a private key leak or an offline attack during the meeting, where his phone was briefly unattended.