Infini Neobank was targeted by hackers, resulting in the theft of millions in USDC and other cryptocurrencies. The incident highlights increasing risks in the crypto industry.
Details of Infini Neobank Breach
As reported by Certik, unauthorized transfers were observed from Infini's contract on the Ethereum platform. Hackers depleted millions in USDC.
Response to the Incident and Investigation
According to Lookonchain, the stolen funds were swapped for DAI and further used to purchase 17,697 ETH, which was transferred to a new address. Infini's co-founder promised compensation to affected clients.
Crypto Market Condition and Impact
The crypto market capitalization is $3.08 trillion with a 2.18% decline, indicating a negative trend partly due to recent breaches and attacks. Bitcoin is trading at $95,507 with an 8.86% decline.
Incidents like the Infini Neobank breach emphasize the need for enhanced security measures in the cryptocurrency industry. The market reacts to such events with price decreases and increased volatility.
