Infini Neobank Suffers $50 Million Hack Following Bybit’s $1.4 Billion Breach
Infini, a Hong Kong-based blockchain neobank, experienced a cyberattack resulting in the theft of approximately $50 million worth of USDC stablecoin. The funds were converted to 17,696 Ethereum and transferred to a new wallet.
- Lookonchain detected abnormal fund movements on February 24.
- The hacker swapped stolen USDC for DAI before acquiring Ethereum.
- Co-founder Christian Li stated that Infini will compensate affected users and remains liquid.
This breach follows Bybit's $1.4 billion hack earlier in February, attributed to the North Korean Lazarus Group. Despite this, Bybit CEO Ben Zhou confirmed the exchange has sufficient reserves to cover losses.
- Bybit received 446,870 ETH within days to address the security gap.
- In 2024, the crypto industry recorded 303 hacks leading to $2.2 billion in losses.
The recent incidents highlight ongoing security challenges in cryptocurrency investments and operations.