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Crypto-focused neobank Infini Suffers a Devastating $49.5 Million Exploit
Just days after the $1.5 billion Bybit hack, another major crypto-related incident has shaken the industry. Crypto-focused neobank Infini has reportedly suffered a massive exploitation of its systems, resulting in the loss of approximately $49.5 million.
The shocking news comes as a significant blow to the already reeling crypto community, which is still trying to recover from the unprecedented Bybit hack. The rapid succession of these high-profile breaches has reignited calls for robust security protocols across centralized and decentralized crypto platforms.
According to reports, Infini’s systems were compromised by an unknown actor, who exploited a vulnerability in the platform’s architecture. This allowed them to siphon funds from user accounts, leading to the staggering loss.
Interestingly, the influx of stolen ETH into the market has paradoxically catalyzed a small rally, pushing Ethereum’s price above $2,800 for the first time in weeks as exchanges scrambled to replenish reserves. However, this development has also sparked concerns about potential money laundering or hostile regime financing, given the use of Tornado Cash and the scale of the theft.
As the crypto community struggles to make sense of these unprecedented events, it is essential that regulators and industry players alike take immediate action to ensure the safety and security of user funds.
Source: https://coinjournal.net/news/crypto-focused-neobank-infini-has-suffers-a-49-5-million-exploit/
