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 ($1.00) was stolen.
The hacker then reportedly swapped $49.5 million worth of USDC for $49.5 million worth of DAI ($1.00) and then purchased 17,696 ETH ($2,687.62).
“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.
Continue Reading: While Trying to Erase Traces of Bybit Hack Incident, Another Cryptocurrency Platform Was Hacked! Hacker Purchased This Altcoin With The Money He Stole! creator solana token
