Infini responds to the 50 million USD fund loss incident: strengthen governance mechanisms to ensure asset security.

Author: Infini

Infini's official statement regarding the recent incident of a $50 million fund loss confirms that legal action has been taken through the Hong Kong High Court, and comprehensive internal governance and security measures have been strengthened to ensure the safety of user assets and the stable operation of the platform. Infini emphasizes that since the incident occurred, core business operations and user experience have not been affected, and the company's payment card system, deposit and withdrawal services are all operating normally, ensuring the safety of user funds.

Event progress and legal actions

Infini has filed a lawsuit with the High Court of Hong Kong (Case No. HCA533/2025) and has sent court documents to the relevant address through on-chain information. The subject of the lawsuit is BP SG Investment Holding Limited, a Hong Kong registered company wholly owned by Infini Labs.

According to legal documents, the Infini smart contract originally had multi-signature permissions in place to ensure the security of fund flows. However, in late February 2025, the company discovered that approximately 49,516,662.977 USDC worth of crypto assets had been transferred to multiple unknown wallet addresses without multi-signature approval.

Currently, Infini has taken the following legal measures:

· Apply to the court for an asset freeze order to prohibit the parties involved from transferring or disposing of the relevant funds;

· Require the relevant wallet controllers to disclose their identities for further tracking of asset flows;

· Apply for extraterritorial delivery permission to support legal actions across jurisdictions.

Causes of the incident and safety improvement measures

Infini stated that the core reason for the incident lies in the vulnerabilities in permission management. Despite the company implementing a multi-signature mechanism in the smart contract, certain operations may have retained special permissions, allowing funds to be transferred without formal approval. This incident reflects that as companies expand and the complexity of asset management increases, technical security and governance mechanisms need to be continuously improved.

In response to this situation, Infini is comprehensively upgrading its fund security management system, including:

· Redesign the smart contract permission architecture to ensure there is no single point of failure risk;

· Strictly implement a multi-signature mechanism, all fund transfers require independent approval from multiple management personnel.

· Introduce third-party security auditing firms to conduct in-depth reviews of all contract codes;

· Establish a 24/7 on-chain monitoring system to detect and warn of abnormal transactions in real time;

· Completely separate user funds from company operating funds, and entrust them to professional asset management institutions.

User asset security and business stability

Infini reiterates that this incident mainly affects the company's operating funds, and user deposit assets have not been impacted. The company's payment card system, recharge, and withdrawal services are all operating normally, and users can continue to use all services as usual.

In addition, to further enhance user confidence, the company plans to introduce a series of保障 and optimization measures, including:

· Further strengthen trading security management and optimize risk control processes;

· Improve platform transparency by regularly releasing security governance and audit reports;

· Continuously optimize the customer service system to ensure users can obtain the latest information in a timely manner.

Industry Insights and Future Development

Infini believes that this incident exposes the challenges in technical security and governance structures within the cryptocurrency industry. Companies must pay more attention to security architecture and risk management during rapid development. Key takeaways include:

· The technical security and permission management need to be strengthened simultaneously to avoid potential risks caused by a single control point;

· Key smart contracts must undergo rigorous independent audits by multiple parties to ensure system robustness;

· The risk monitoring and early warning mechanism needs continuous optimization to enhance the detection and response capability for abnormal transactions.

Infini is also actively promoting compliance integration with multiple jurisdictions around the world and plans to complete payment license applications for major markets before the third quarter of 2025.

At the same time, the company is adjusting the management structure of the development team, with specific measures including:

· Strengthen the code review process to ensure that all key contracts are rigorously verified before deployment;

· Clarify development specifications to eliminate unauthorized permission settings and hidden functions;

· Establish a risk management committee to oversee significant capital decisions by independent experts.

Long-term operation and user commitment

Despite facing challenges, Infini will continue to execute its product roadmap and plans to launch support for Apple Pay and Google Pay in the second quarter of 2025, while expanding its global market coverage.

Infini stated that this event will prompt the company to undertake a comprehensive upgrade in security and governance to ensure long-term stable operations and continuously provide users with secure and efficient crypto payment services.