OMG, you won’t believe this! The Infini hacker, who stole a whopping $50 million in February, has finally decided to cash in on their ill-gotten gains. And guess what? They’re doing it in style!
On July 17, 2025, the wallet tied to this notorious cybercriminal re-emerged with some on-chain activity, moving 4,770 ETH (worth about $16 million at current prices) across two addresses. This marks the first activity from the attacker since the February breach of the crypto-focused neobank, which resulted in the loss of $49.5 million in USDC (USDC).
PeckShieldAlert, the Twitter sleuths, spotted 3,000 ETH funneled through Tornado Cash, the privacy mixer often used to obscure transaction trails. A second address swapped 1,770 ETH for about $5.9 million in DAI (DAI), marking an outright liquidation of part of their loot. 😲
#PeckShieldAlert #Infini Exploiter has transferred 4,770 $ETH (worth ~$16M) to 2 addresses
The address 0x7142…fa41 has laundered 3K $ETH via #tornadocash
The address 0x762d…F9FB has swapped 1,770 $ETH for ~5.9M $DAI— PeckShieldAlert (@PeckShieldAlert) July 17, 2025
The exploiter’s timing isn’t random, and the pattern of transfers points to profit-taking, especially as Ethereum posts fresh gains. After the original exploit, the Infini hacker converted the stolen stablecoins into 17,696 ETH at an average price of $2,798.
With ETH now trading above $3,400, the stash has swelled to about $59 million, over $10 million in gains for the hacker. So far, the transfers represent only a small slice of their holdings, hinting that the attacker may be testing exits. The wallet still holds roughly $38 million worth of ETH in balance, leaving plenty of room for more selling.
The latest movements further dampen any recovery hopes for the firm. Following the hack, Infini attempted to negotiate with the hacker with a 20% bounty offer and the promise of no legal action if the funds were returned, but those efforts proved futile. 😒
Laundering through mixers and stablecoin conversions makes tracing nearly impossible, making it likely that the stolen funds may be gone for good. 💸
Investigations revealed that the exploit was possible because a developer who helped set up its smart contract retained admin rights, and that access was later used to drain the platform. The Infini breach ranks among the largest crypto exploits this year, alongside other high-profile cases like the $1.4 million Bybit hack in the same month.
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2025-07-17 13:54