The payment system Infini lost $50 million due to a hack carried out by a developer who left administrative rights after completing the project. Using these rights, the attacker transferred funds to USDC through a contract created in November 2024, then exchanged them for Dai and transferred them into 17,696 ETH. The Infini team did not suspend withdrawals, promising compensation to users in the worst-case scenario. This incident occurred after the hack of the Bybit cryptocurrency exchange, which lost $1.4 billion.
2/25/2025 10:00:43 AM (GMT+1)
Infini loses $50 million due to a hack by a developer with left administrative rights, using a vulnerability in the contract and cryptocurrency transfers
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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