{"id":48037,"date":"2025-02-24T13:28:13","date_gmt":"2025-02-24T13:28:13","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/infini-suffers-50m-hack-days-after-bybits-1-5bn-exploit\/"},"modified":"2025-02-24T13:28:13","modified_gmt":"2025-02-24T13:28:13","slug":"infini-suffers-50m-hack-days-after-bybits-1-5bn-exploit","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/infini-suffers-50m-hack-days-after-bybits-1-5bn-exploit\/","title":{"rendered":"Infini suffers $50M hack, days after Bybit&#8217;s $1.5Bn exploit"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1681138008510-dc5c23c0-8e67-49a5-993f-26c4f6afbcd3-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1681138008510-dc5c23c0-8e67-49a5-993f-26c4f6afbcd3-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1681138008510-dc5c23c0-8e67-49a5-993f-26c4f6afbcd3-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1681138008510-dc5c23c0-8e67-49a5-993f-26c4f6afbcd3-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li aria-level=\"1\">Infini\u2019s exploit follows the Bybit hack that resulted in the loss of $1.5 billion last week<\/li>\n<li aria-level=\"1\">Infini\u2019s attacker had previously worked on the project\u2019s development contract and secretly retained the admin rights<\/li>\n<li aria-level=\"1\">Christian Li said full compensation can be paid and that the funds were being traced<\/li>\n<\/ul>\n<p>Infini, a stablecoin neobank, reportedly suffered an exploit that resulted in a loss of $49.5 million.<\/p>\n<p>According to blockchain security company Beosin Alert, the stolen USDC was <a href=\"https:\/\/x.com\/BeosinAlert\/status\/1893889000357683253\" target=\"_blank\" rel=\"noopener\">converted into 17,696 Ethereum<\/a> before transferring the funds to an external wallet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/0xinfini?ref_src=twsrc%5Etfw\">@0xinfini<\/a> contract was attacked, resulting in an estimated loss of $49.5 million. The stolen USDC has now been fully converted into 17,696 ETH and is currently  transferred to 0xfcC8Ad911976d752890f2140D9F4edd2c64a6e49. <br \/>We will continue to monitor this incident.<\/p>\n<p>\u2014 Beosin Alert (@BeosinAlert) <a href=\"https:\/\/twitter.com\/BeosinAlert\/status\/1893889000357683253?ref_src=twsrc%5Etfw\">February 24, 2025<\/a><\/p>\n<\/blockquote>\n<p>Posting on <a href=\"https:\/\/x.com\/CyversAlerts\/status\/1893903649916555556\" target=\"_blank\" rel=\"noopener\">X<\/a>, security firm Cyvers Alerts reported that the attacker had worked on developing the contract as part of the Infini project. However, after completing the project, they secretly retained the admin rights.<\/p>\n<p>In a translated <a href=\"https:\/\/x.com\/Christianeth\/status\/1893885666557411712\" target=\"_blank\" rel=\"noopener\">post<\/a>, Christian Li, Infini\u2019s founder, said:<\/p>\n<p>\u201cFull compensation can be paid and the funds are being traced.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"zh\" dir=\"ltr\">\u4e4b\u524d\u6709\u670b\u53cb\u5f00\u73a9\u7b11\u8bf4\u6211\u8fd9\u4e00\u8def\u4e5f\u592a\u987a\u98ce\u987a\u6c34\u4e86\uff0c\u6211\u8bf4\u5df2\u7ecf\u65f6\u523b\u505a\u597d\u4e86\u8fce\u63a5\u7b2c\u4e00\u4e2a\u52ab\u7684\u51c6\u5907\uff0c\u6ca1\u60f3\u5230\u5728bybit\u4e4b\u540e\u7d27\u63a5\u51fa\u4e8b\u7684\u662f\u81ea\u5df1\u3002<\/p>\n<p>\u6211\u7684\u4e2a\u4eba\u79c1\u94a5\u6ca1\u6709\u6cc4\u6f0f\uff0c\u4e0d\u7528\u8fc7\u5ea6\u62c5\u5fc3\uff0c\u662f\u4e4b\u524d\u8f6c\u4ea4\u6743\u9650\u7684\u65f6\u5019\u6709\u758f\u5ffd\uff0c\u5f52\u6839\u7ed3\u5e95\u662f\u6211\u7684\u8d23\u4efb\uff0c\u8fd9\u6b21\u6572\u9192\u4e86\u8b66\u949f\u3002\u2026 <a href=\"https:\/\/t.co\/7pHxtwD2ZV\">https:\/\/t.co\/7pHxtwD2ZV<\/a><\/p>\n<p>\u2014 Christian (Building @0xinfini) (@Christianeth) <a href=\"https:\/\/twitter.com\/Christianeth\/status\/1893885666557411712?ref_src=twsrc%5Etfw\">February 24, 2025<\/a><\/p>\n<\/blockquote>\n<p>Crypto trader Ali <a href=\"https:\/\/x.com\/ali_charts\/status\/1893955153398468996\" target=\"_blank\" rel=\"noopener\">said<\/a>:<\/p>\n<p>\u201cAnother day, another hack. The community can rally behind @Bybit_Official and now @0xinfini, acting like everything is fine, but let\u2019s be real, this isn\u2019t a good look for the industry.\u201d<\/p>\n<h2>Biggest crypto hack<\/h2>\n<p>The Infini hack comes on the heels of the biggest exploit in the crypto market.<\/p>\n<p>Last week, <a href=\"https:\/\/coinjournal.net\/news\/north-koreas-lazarus-group-behind-hack-as-bybit-loses-1-5b\/\">Bybit suffered a loss of $1.5 billion<\/a> in Ethereum at the hands of what\u2019s believed to be, North Korea\u2019s Lazarus Group.<\/p>\n<p>As a result of the hack, Bitcoin dipped below $95,000, and Ethereum dropped to $2,641, as market volatility soared. According to data from CoinMarketCap, at the time of publishing, Bitcoin and Ethereum remained around the same trading levels.<\/p>\n<p>Following uncertainty around the platform, Ben Zhou, Bybit\u2019s founder and CEO, <a href=\"https:\/\/x.com\/benbybit\/status\/1893865556840775758\" target=\"_blank\" rel=\"noopener\">said<\/a> it had \u201cfully closed the ETH gap.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Latest Update: Bybit has already fully closed the ETH gap, new audited POR report will be published very soon to show that Bybit is again Back to 100% 1:1 on client assets through merkle tree, Stay tuned. <a href=\"https:\/\/t.co\/QLa1vOujM6\">https:\/\/t.co\/QLa1vOujM6<\/a><\/p>\n<p>\u2014 Ben Zhou (@benbybit) <a href=\"https:\/\/twitter.com\/benbybit\/status\/1893865556840775758?ref_src=twsrc%5Etfw\">February 24, 2025<\/a><\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/infini-suffers-50m-hack-days-after-bybits-1-5bn-exploit\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Infini\u2019s exploit follows the Bybit hack that resulted in the loss of $1.5 billion last week Infini\u2019s attacker had previously worked on the project\u2019s development contract and secretly retained the admin rights Christian Li said full compensation can be paid and [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":48038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48037"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=48037"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/48038"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=48037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=48037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=48037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}