Infini, a prepaid payments card issuer, suffered a security breach resulting in the loss of nearly all the value locked in its wallets, amounting to $49.5 million. The company warned the hacker that it had obtained critical IP and device information. Infini offered the perpetrator 20% of the stolen assets as an attempt to resolve the matter amicably, but also threatened to collaborate with law enforcement if there was no response within 48 hours. The exploit occurred due to a developer retaining admin rights over the smart contract and exploiting them months later to drain the funds into a wallet funded through a cryptocurrency mixer. The founder of Infini, Christian Li, has taken responsibility for the incident and vowed to cover the full loss from his personal funds.



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