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Infini Suffers $49M Hack, Assures Compensation Amid Crisis
Hong Kong-based stablecoin neobank Infini has fallen victim to a significant security breach, with hackers making off with a staggering $49 million in USDC. The incident occurred on February 24, 2025, and the company has since assured that all affected users will receive full compensation.
According to reports, the hack exploited an administrative privilege vulnerability within the smart contract used by Infini’s payments platform. This breach serves as a stark reminder of the ongoing security challenges facing the digital asset industry.
Infini’s founder, Christian Li, stated in a public statement that his company remains financially stable and is committed to compensating all users who were impacted by the attack. The incident has raised serious concerns regarding the security posture of neobanks and their ability to protect sensitive user information.
The hack, which utilized Tornado Cash to launder the stolen USDC, resulted in the theft of 17,696 ETH. Infini has since taken steps to investigate the incident and establish additional protective measures to prevent similar attacks from occurring in the future.
Industry experts have called for a comprehensive security audit of all smart contracts used by neobanks, highlighting the need for robust standards and best practices to mitigate such incidents.
Source: https://cryptotale.org/infini-suffers-49m-hack-assures-compensation-amid-crisis/
