While the Bybit hack has not yet subsided, the crypto market has witnessed another major attack. This time the victim is Infini, a stablecoin banking application, with the amount stolen up to 49.5 million USDC.

Hacker Stole 49.5 Million USDC, Converted to ETH

On the morning of February 24, according to Wu Blockchain, hackers made two large withdrawal transactions from Infini's USDC Vault:

  • 1st time: 11.45 million USDC

  • 2nd time: 38 million USDC

The cause was determined to be the exposure of the private key (#privatekey ), allowing the attacker to steal a huge amount of assets.

After stealing USDC, the hacker quickly swapped it to 49.5 million DAI, then continued to use DAI to buy 17,696 ETH before transferring this ETH to a new wallet to erase the traces.

Founder Promises Full Compensation

At present, Infini's official account on X has not confirmed the incident. However, the project's founder, Christian (@Christianeth), has reassured the community with a statement on his personal account:

"We are looking into the matter. The withdrawal feature is still working normally. And in the worst case scenario, users will receive full compensation. Everyone should not worry."

This means that #infini commits to refunding the entire amount lost if the stolen property cannot be recovered.

Hope for Asset Recovery Remains

Based on the experience from the recent Bybit hack, money laundering in the crypto industry is becoming increasingly difficult, especially when there is close coordination between blockchain organizations.

The proof is that after just over 2 days, Bybit was able to collect back 1.2 billion USD ETH to compensate for the loss thanks to the support of the community. Therefore, many people expect Infini to be able to recover some of the lost assets.

Currently, the most important task is to trace the money flow, track the hacker's wallet and freeze the assets, to increase the chance of recovering the stolen money. #anhbacong

🔥 In short, although the Infini hack was a big shock, with the founder's commitment to 100% compensation and the ability to recover assets, users still have reason to hope. 🔥