Suspected Infini Hacker Routes $32.7M in ETH Through Tornado Cash

Infini exploit funds re-enter circulation as laundering activity highlights rising crypto theft and weak recovery prospects.

Activity tied to a major Infini exploit has resurfaced on Ethereum, months after the initial breach. As spotted by on-chain observers, the hackers have resumed large movements of stolen assets through a crypto mixing service. The recent development adds to growing concerns about network breaches and fund recovery. 

Tornado Cash Used to Obscure Infini Hack Proceeds, On-Chain Data Shows

Blockchain security firm PeckShield reported that an address labeled as the Infini exploiter deposited 15,470.7 stETH into Tornado Cash. Funds are estimated at $32.7 million. 

PeckShieldAlert data shows repeated deposits, mostly in 100-ETH-sized amounts. Typically, such patterns signal attempts to reduce traceability, as mixers obscure asset tracking. Meanwhile, the recent movement confirms that the attackers still hold a sizeable amount of the stolen assets.

Infini suffered losses after attackers gained access to compromised admin privileges in February of last year. Total damage reached about $49.5 million. Subsequent activity via Tornado Cash indicates ongoing laundering rather than dormant wallets.

Separate findings from the security firm Cyvers pointed to internal activity. As reported, a developer involved in Infini’s contract work allegedly kept admin rights after delivery. Access allowed the creation of a malicious contract in November 2024, later used to drain funds.

Attack preparation began with a wallet funded using 1 ETH from Tornado Cash. Using that wallet, attackers transferred $49.52 million in USD Coin from Infini. 

Afterwards, the assets were quickly swapped for Dai, chosen for its lack of a freeze function. The malicious actors then converted the holdings into 17,696 ETH, which was moved to a secondary address on Ethereum.

Chainalysis: Crypto Theft Surpasses $3.4B in 2025 as Attack Scale Grows

Broader industry data indicate that the Infini hack is part of a larger sector issue. A Chainalysis report estimates that more than $3.4 billion was stolen across crypto markets from January through early December 2025. Bybit’s February breach alone accounted for $1.5 billion.

Image Source: Chainalysis

As contained in the report, centralized platforms now face fewer attacks. However, they now witness far larger losses per incident. Private-key compromise and signing-process attacks continue to bypass cold-wallet protections. Losses from such incidents made up 88% of the stolen value in the first quarter of last year.

Notably, $370.3 million in assets was stolen through scams and exploits in January 2026 alone. According to CertiK data, this is the highest monthly total in 11 months.

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