Former Infini Employee Suspected of Participating in Nearly 50 Million USDC Theft
Date: 2025-03-26 Author: Henry Casey Categories: BUSINESS
Infini has filed a lawsuit against a former developer named Shanxuan, suspecting him of involvement in the theft of 49.5 million USDC stablecoins. According to the company, the theft took place on February 24: the attacker replenished the crypto wallet via Tornado Cash, and then withdrew a large amount through a smart contract created in November last year.
The stolen funds were transferred to DAI, and then converted into 17,696 ETH, which were then moved to another address. Infini claims that Shanxuan may have had access to the crypto addresses used in the attack, which is the basis for the lawsuit.
The neobank's management warned that any third parties who come into possession of the stolen assets in the future will not be considered their rightful owners. The entire chain of movement of funds is carefully monitored with the support of law enforcement agencies.
In order to de-escalate the situation, Infini offered the hacker a refund on the condition that he would keep 20% of the stolen amount as a reward. In exchange, the company is ready to stop the investigation and waive further claims. However, at the time of publication, there was no reaction from the attacker.
The incident occurred against the backdrop of an increasing wave of attacks in the crypto industry. Just a few days before the Infini hack, the Bybit platform suffered a serious loss: $1.4 billion in digital assets were stolen from its accounts - this is the largest such crime in the history of the industry. Later, an independent analyst established that the infamous hacker group Lazarus from North Korea was behind the attack. The same group has previously been involved in attacks on other platforms, including Phemex and BingX.
Against this backdrop, Infini is beefing up its security measures and collaborating with blockchain experts and law enforcement to increase the chances of recovering funds and preventing similar attacks in the future.
