Infini Labs Accuses Engineer of Embezzling $49.5 Million USDC

According to Foresight News, Infini Labs has filed a lawsuit against Chen Shanxuan, an engineer accused of embezzling approximately $49.5 million USDC. The lawsuit was submitted by Infini Labs' Hong Kong subsidiary, BP SG Investment Holding Limited, alleging that Chen, who was a lead developer, retained 'super admin' privileges without informing the team. In late February, a significant amount of funds was transferred without the required multi-signature authorization. Evidence presented by the plaintiff suggests that Chen has a severe gambling habit, which may have driven him to commit the alleged theft due to substantial debts. Prior to the incident, Chen reportedly borrowed money from various individuals and engaged with underground money lenders. The company has requested the court to freeze the relevant assets and compel the suspect to disclose his identity and transaction details.