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Neobank Infini celebrates $50M TVL, then suffers $49.5M USDC exploit due to former insider – TON BOT

Neobank Infini celebrates $50M TVL, then suffers $49.5M USDC exploit due to former insider

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Infini, a stablecoin-focused neo-bank, was exploited resulting in a $49.5 million loss in USDC. The attacker converted the stolen USDC into DAI and then purchased 17,696 ETH. Cyvers detected the breach and criticized Circle’s slow response. The attacker had administrative privileges and used Tornado Cash to cover gas fees. Founder Christian admitted negligence but assured users of financial stability and compensation. This highlights the risks of granting long-term administrative privileges to developers.

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