Have all the hackers started to act to end the bull market?

《Breaking! Infini Hacked, $49.5 Million USDC Stolen, Founder Promises Full Compensation》

On February 24, 2025, the stablecoin digital bank Infini experienced a major security incident, with hackers exploiting an unverified Ethereum contract vulnerability to steal a total of $49.5 million USDC in two transactions and convert it to ETH. This incident marks the second major security breach in the crypto market within three days, following the $1.46 billion outflow from Bybit. The Infini team has initiated a full compensation program and is working with security agencies to trace the flow of funds.

1. Attack Method and Technical Details
The hackers exploited an unverified contract vulnerability, gaining Vault private key permissions to transfer funds, stealing $11.45 million and $38.06 million USDC in two transactions, which were ultimately converted to 17,696 ETH (approximately $49.5 million).
Slow Mist analysis indicated that the attackers were proficient in smart contract operations, and the team acknowledged that negligence in transferring permissions led to the vulnerability, with no direct private key leaks occurring.

2. Response Measures and Compensation Progress
Infini founder @Christianeth promised to fully compensate user losses, emphasizing that liquidity is currently sufficient, and the involved engineer has been detained and reported to the authorities.
Co-founder @0xsexybanana stated that compensation capabilities are not in doubt, and fund tracking is progressing through on-chain monitoring and cross-platform collaboration.

3. Industry Impact and Expert Opinions
The incident has intensified market skepticism regarding the security of centralized platforms and DeFi protocols, with ETH prices briefly falling below $2,700.
Industry insiders are divided: ABCDE founder Du Jun expressed the willingness to provide tens of millions of dollars in support, while some voices warn of the risks associated with emerging platforms. #Infini遭攻击 #bybit被盗