Security analysts leveraged stablecoin Neobank Infini to earn $49 million
Reports from The Block: Infini was hacked, resulting in losses of approximately $49 million, confirmed by multiple security analysts.
Analysts noted that $49 million of USDC was withdrawn from a smart contract.
Infini is a stablecoin neobank and payment platform headquartered in Hong Kong, and this attack resulted in approximately $49 million in losses.
Security analysts from Cyvers and Blocksec confirmed to The Block that Infini is the affected entity. According to on-chain data, analysts stated that $49 million worth of USDC was withdrawn from a smart contract that previously received Infini funds. The stolen funds were sent to an address funded by Tornado Cash, a privacy tool commonly used to obscure crypto transactions. The attacker has converted the stablecoin into Ethereum.