Infini, the stablecoin payment platform, is not taking kindly to a recent hack that siphoned nearly $50 million in crypto assets. In a bold legal move, Infini has filed a lawsuit in Hong Kong against developer Chen Shanxuan and three unidentified individuals whose wallets were lucratively compromised. The onchain communiqué, sent out on March 24, names the alleged defendants and makes it clear that the nearly $49.5 million USDC (valued at $0.9999 each) is now subject to an ongoing legal dispute. According to Infini, any future holder of these assets cannot claim a bona fide purchase without being put on notice of the dispute.
Taking an unconventional approach, the Hong Kong court even delivered an injunction order directly through an on-chain message, a method designed to reach those elusive, anonymous crypto wallets. This digital writ of summons demands that the defendants attend a return date hearing, ensuring that the legal process keeps pace with the blockchain age.
In an unexpected twist, Infini extended a 20% bounty following the hack on February 24. The bounty offer invited the attacker—or any party in possession of the stolen funds—to return 80% of them. Infini’s on-chain message revealed that the team had already collected IP and device information related to the assailants and assured the crypto community that the addresses involved would continue to be monitored closely. Despite this tempting offer, the attacker has yet to return a single satoshi from the specified address.
The timing of the Infini hack adds another layer of intrigue. It follows not long after Bybit suffered a monumental breach in which a hacker made off with $1.4 billion from its multi-signature wallet on February 21. Marwan Hachem, chief operating officer at FearsOff, suggested that the Infini attackers strategically chose this moment when the industry was preoccupied with the fallout from the Bybit incident.
“With everyone busy on the investigation and recovery efforts of the $1.5B, the Infini attackers perceived their chances of success to be higher at that moment,”
Hachem explained to Cointelegraph.
As Infini tightens its legal bolts and tracks every digital footprint, this saga is far from over. The legal action—and the cheeky bounty—demonstrate that in today’s crypto world, even hackers can find themselves caught in the net of blockchain justice.
Abimbola Adu
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