Following the $1.4 billion Bybit hack that took place a few days ago and caused a huge stir in the cryptocurrency market, news of another hack came.
Accordingly, Hong Kong-based stablecoin neobank and payment platform Infini reportedly suffered a hack attack that caused a loss of approximately $49 million.
Blockchain security firm CertiK said in a post from the X account that an abnormal fund transfer was made from unverified Ethereum contracts and approximately $49.5 million worth of USDC was stolen.
The hacker then reportedly swapped $49.5 million worth of USDC for $49.5 million worth of DAI and then purchased 17,696 ETH.
“The attacker used this address (0xc49b5) to change the settings of the smart contract and drained the entire fund,” security firm Blocksec said.
Infini founder Christian Li stated in his X post that they are reviewing the details of the hack, ensuring that footage was not affected, and promising full compensation to all affected users even in the worst-case scenario.
The Infini founder added that his personal private key was not leaked and there is no major cause for concern.
Li admitted that he had acted carelessly during a previous managerial transfer, revealing that he had previously mistakenly transferred contract authority.
*This is not investment advice.
