Recent incidents involving the hacking of Infini and Bybit have once again raised concerns about security in the cryptocurrency industry. These events highlight existing vulnerabilities and have sparked worry among investors.
Infini Hack and Administrator Rights Exploitation
According to Beosin Alert, the hack of Infini's contract resulted in the theft of approximately $49.5 million. The stolen USDC stablecoins were quickly converted into 17,696 ETH and transferred to an external wallet.
Promises from Infini's Founder
Following the incident, Infini founder Christian Li promised to investigate the situation. He also stated that users can withdraw funds normally and assured that the bank is capable of fully compensating for all lost assets.
Panic Over Bybit's $6.7B Outflow
Despite Bybit's actions in this situation receiving praise, the hack caused panic and a massive withdrawal of funds. Data from Arkham shows an outflow of over $6.7 billion.
These incidents prompt a reevaluation of security issues in the cryptocurrency sector. Investors need to be more vigilant and projects should enhance their security measures.
