Yet Another Major Hack Strikes Crypto: Stablecoin Bank Infini Suffers $50M Hack Just Days After Bybit’s $1.5B Breach
- Infini suffered a security breach, losing 17,696 ETH.
- The hacker swapped $49.5 million in DAI for ETH before transferring it to a new wallet.
- The Infini team assures users of full compensation and ongoing investigation.
Stablecoin bank Infini has suffered a security breach, resulting in the loss of 17,696 ETH, roughly $50 million. Blockchain security firm PeckShield first reported the exploit, noting that the hacker swapped $49.5 million in DAI for ETH.
The heist, which happened today, February 24, saw the funds transfer to a new wallet address (0xfcc8a…6e49), according to PeckSheild. The exact method of the exploit is still under investigation.
Infini Founders Confirm Breach, Pledge Compensation
The founder of the stablecoin bank, Christian, acknowledged the breach on X, stating that the team is actively tracking the incident. “We are still sorting out the details. Withdrawals are normal; in the worst case, we will provide full compensation,” he assured users.
Infini’s co-founder, Christine, echoed this sentiment, reaffirming that the platform has the financial capacity to cover losses. “Please rest assured—we will compensate for the losses and c…
The post Yet Another Major Hack Strikes Crypto: Stablecoin Bank Infini Suffers $50M Hack Just Days After Bybit’s $1.5B Breach appeared first on Coin Edition.
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Yet Another Major Hack Strikes Crypto: Stablecoin Bank Infini Suffers $50M Hack Just Days After Bybit’s $1.5B Breach
- Infini suffered a security breach, losing 17,696 ETH.
- The hacker swapped $49.5 million in DAI for ETH before transferring it to a new wallet.
- The Infini team assures users of full compensation and ongoing investigation.
Stablecoin bank Infini has suffered a security breach, resulting in the loss of 17,696 ETH, roughly $50 million. Blockchain security firm PeckShield first reported the exploit, noting that the hacker swapped $49.5 million in DAI for ETH.
The heist, which happened today, February 24, saw the funds transfer to a new wallet address (0xfcc8a…6e49), according to PeckSheild. The exact method of the exploit is still under investigation.
Infini Founders Confirm Breach, Pledge Compensation
The founder of the stablecoin bank, Christian, acknowledged the breach on X, stating that the team is actively tracking the incident. “We are still sorting out the details. Withdrawals are normal; in the worst case, we will provide full compensation,” he assured users.
Infini’s co-founder, Christine, echoed this sentiment, reaffirming that the platform has the financial capacity to cover losses. “Please rest assured—we will compensate for the losses and c…
The post Yet Another Major Hack Strikes Crypto: Stablecoin Bank Infini Suffers $50M Hack Just Days After Bybit’s $1.5B Breach appeared first on Coin Edition.
Read More
Abu Dhabi’s Fuze, Oman’s Mamun to Offer USDT-Based Sharia Trade Finance for MENA