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TruthsXBT - Infini Theft Case Update Summary
1️⃣ Background
Infini Labs CEO Chou Christian-Long has accused engineer Chen Shanxuan of stealing approximately $50 million in crypto assets. The theft occurred without authorization and involved a smart contract that was originally secured with multi-signature authorization.
2️⃣ Details of the Allegations
Chen allegedly retained “super admin” privileges on the smart contract while falsely claiming he had removed them. This allowed nearly $5 million USDC to be transferred to an unknown wallet.
3️⃣ Financial Disclosures
According to the lawsuit, Chen allegedly has a serious gambling habit and may have accumulated debts, which is believed to be a potential motive for the theft.
4️⃣ Legal Actions
Infini has filed for an injunction to prevent the defendant from moving or disposing of the stolen assets, while also demanding full disclosure of identities and transaction details.
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