Infini lost $49.5M in USDC after an attacker exploited retained admin privileges.
The stolen funds were converted to 17,696 ETH and transferred to a new wallet.
Crypto-focused neobank Infini has suffered a $49.5 million exploit, with the attacker swapping stolen funds for Ethereum before moving them to a separate wallet. The breach follows a string of major crypto security incidents, including Bybit’s $1.4 billion hack.
How the Attack Unfolded
CertiK first detected the suspicious activity on Feb. 24 at 3:18 am UTC. The attacker used a retained administrative privilege to gain unauthorized access to an Infini-related Ethereum contract. They withdrew 49.5 million USDC before exchanging it for DAI. The DAI was then used to buy 17,696 ETH. Lookonchain later identified that the Ethereum was moved to a new wallet.
It seems that the stablecoin bank @0xinfini was hacked and 49.5M $USDC was stolen.
The hacker swapped 49.5M $USDC for 49.5M $DAI and bought 17,696 $ETH.
The 1
We współpracy z: https://thenewscrypto.com/infini-neobank-suffers-49-5m-hack-due-to-insider-exploit/
