Infini Suffers $49 Million USDC Loss Due to Admin Privilege Abuse

The DeFi platform Infini has suffered a significant loss of $49 million in USDC through a security breach. The attack exploited retained admin privileges within the platform’s smart contract, according to data from Cyvers Alerts. This incident was publicly disclosed by Infini on social media. 0xc49b5e5b9da66b9126c1a62e9761e6b2147de3e1 appears to be the attacker’s wallet address, linked to the exploit. The attacker utilized their reserved administrative access within Infini’s smart contract to drain funds shortly after its launch.