Crypto-centered Neobank Infini has allegedly suffered an $ 49.5 million exploitation, with the stolen funds swap Dai and used to buy ETH.
Certik first flagged off suspicious activity on UTC on February 24 at 3:18 am on February 24 at 3:18 pm, seeing unauthorized transfers from an infini-related contract on Ethereum (Eth). The hacker provided a special access to the “0xC49B …” account and was able to withdraw 49.5 million USD coin (USDC).
After that, the stolen 49.5 million USDCs were exchanged for DAI (DAI) and bought 17,696 ETHs. Lukanchen later reported that the Etherium was taken to a new wallet, “0xfcc8 … 6e49.”
After hack, the co-founder of Infini has Gave Assurance Customers that they will get back their money, claiming that the company could compensate them. The entire scope of the incident and the recovery efforts of Infini has not yet been officially declared on the company’s website or social media accounts.
“Please be sure that we will definitely compensate you and we can tolerate it.
But there are a lot of things to do now, so I will not spend more time to calm you down.
I will progress as soon as possible.
Please believe me and @christiand. ,
@0xsexybanana, Infini co-founder
Since the breech seems to be due to a private key rather than a protocol-level vulnerability, the incident raises questions about private key management and smart contract security.
Launched in 2024, Infini Neobank holds itself as a link between traditional banking and cryptocurrency finance. A neobank is a digital-level financial institution that works without any material branches, offering banking services through a mobile app.
In addition to traditional banking services, Infini provides stabcoin transactions and yield-generating accounts. The forum has seen large -scale popularity since its inception, with 500% monthly growth rate in active users, as of February 14, Press release,
Infini hack is the latest in a string of high-profile crypto security violations. On 21 February, bybit faced $ 1.4 billion exploitation, making it one of the largest exchange hacks in history. A hacker manipulated the smart contract logic to drain the multisigent cold wallet of the bibit. The exchange is currently working with blockchain security firms to try and recover theft and launch a reward of $ 140 million.
