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Stablecoin Bank Infini Hit by $49.5M Exploit, Founder Vows Full Repayment Following the $1.4 billion Bybit hack on Friday, Hong Kong-based stablecoin digital bank Infini suffered a security breach, losing nearly $50 million in USDC. Initial reports suggest that the hacker used private keys to steal $49.5 million in USDC, swapped it for DAI, then converted it to ETH via the crypto mixer Tornado Cash, and deposited it into a new address, according to PeckShield. The hacker exploited a single private key to drain funds from the platform’s vault. According to Etherscan, the attacker stole a total of $49.5 million in two batches, 11,455,666 USDC and 38,060,996 USDC.

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