After Bybit, Hackers steal $49M from Infini Crypto Fintech

One other huge crypto hack has rocked the business. Infini, a crypto fintech firm, misplaced $49 million in USDC, and the twist? The hacker was one in every of their very own builders.

Blockchain safety agency Cyvers revealed that the developer had secretly stored admin entry to the mission even after finishing it. For over 100 days, there was no signal of hassle, however then out of nowhere, they funded their pockets by way of Twister Money, a crypto mixer usually related to suspicious actions.

🚨ALERT🚨Right this moment, @0xinfini suffered a $49M $USDC exploit resulting from an attacker abusing retained administrative privileges.

The attacker, working from 0xc49b5e5b9da66b9126c1a62e9761e6b2147de3e1, had initially developed the contract as a part of the Infini mission. Nevertheless, after… pic.twitter.com/olguOyNCJr

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) February 24, 2025

After sending a small ETH transaction to cowl gasoline charges, the hacker executed the assault, draining your complete contract.

This comes within the wake of the Bybit hack, through which attackers drained approximately $1.5 billion from the trade’s scorching wallets. With two high-profile hacks occurring so shut collectively, critical doubts are being forged on our belief in builders and whether or not good contracts are actually safe.

As crypto customers and traders grapple with the ramifications of those high-profile hacks, one factor is for sure: Safety must be taken extra significantly than ever earlier than.