<ul><li>Infini, a crypto-focused neobank, lost $49.5M in USDC after an attacker exploited retained admin privileges.</li><li>The stolen funds were converted to 17,696 ETH and transferred to a new wallet.</li><li>The attacker was a former developer who maintained control over the contract and used Tornado Cash to fund their wallet in preparation for the breach.</li><li>Circle, the stablecoin issuer, received criticism for its delayed response and incident response capabilities.</li></ul>

Infini Neobank Suffers $49.5M Hack Due to Insider Exploit

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