Following the recent $1.4 billion attack on Bybit, the crypto world faces another threat. Hackers attacked the Infini platform, resulting in the loss of approximately $49 million.
Incident Details
Infini, a Hong Kong-based stablecoin neobank and payment platform, suffered a hack causing a loss of about $49 million. According to a post by CertiK, an abnormal fund transfer occurred from unverified Ethereum contracts, resulting in the theft of approximately $49.5 million in USDC.
Hacker's Actions
Reportedly, the hacker swapped $49.5 million USDC for $49.5 million DAI and then purchased 17,696 ETH. Blocksec stated the attacker used a specific address to change smart contract settings and drained the entire fund.
Infini's Response to the Attack
Infini founder Christian Li stated in his post that they are reviewing the hack details and promised full compensation to affected users even in the worst-case scenario. Li assured that his personal private key was not leaked and there is no major concern. He admitted to previous carelessness during a managerial transfer.
The incident with Infini underscores the ongoing security risks in the crypto industry and the necessity for stringent security measures.
