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Crypto-focused neobank Infini Suffers $49.5 Million Exploit
In a shocking turn of events, crypto-focused neobank Infini has reportedly suffered a massive exploit, resulting in the loss of approximately $49.5 million.
The incident comes just days after Bybit’s $1.5 billion hack, which sparked widespread concern about the security vulnerabilities and vulnerabilities in the cryptocurrency market.
According to reports, Infini experienced an unexpected theft at the intersection of blockchain and traditional banking, highlighting the growing need for robust cybersecurity measures across both centralized and decentralized platforms.
The exploit occurred on February 22nd, with hackers siphoning off a whopping $49.5 million from the neobank’s treasury.
Interestingly, this influx of stolen ETH has seemingly sparked a small rally in the market, as exchanges scrambled to replenish their reserves. Ethereum’s price surged above $2,800 for the first time in weeks.
However, the Infini incident has raised concerns about potential money laundering or hostile regime financing due to the use of Tornado Cash and the scale of the theft.
The rapid succession of these high-profile breaches has sparked renewed calls for enhanced security protocols across the cryptocurrency space.
Source: https://coinjournal.net/news/crypto-focused-neobank-infini-has-suffers-a-49-5-million-exploit/
