The hacker behind Infini's massive breach is back on the cryptocurrency scene, taking advantage of rising Ethereum prices.
Hacker Returns and Transfers ETH
On July 17, 2025, the hacker's wallet showed signs of life for the first time in months, transferring a total of 4,770 ETH, worth approximately $16 million. Blockchain security firms like PeckShieldAlert noted that 3,000 ETH was funneled through Tornado Cash, a crypto mixer often used to conceal transaction trails. The remaining 1,770 ETH was swapped for about $5.9 million in DAI stablecoin.
Ethereum Price Surge
The timing of these transfers coincided with Ethereum’s recent price surge. After stealing $49.5 million in USDC from Infini, the hacker converted the stablecoins into 17,696 ETH at an average price of $2,798. Given ETH's current trading price above $3,400, their holdings have ballooned to around $59 million, netting them over $10 million in gains.
Infini's Challenges Post-Hack
So far, only a small portion has been moved, suggesting the attacker might be testing exit strategies before offloading larger sums. The wallet still holds about $38 million worth of ETH. Infini's recovery prospects remain bleak: the crypto neobank attempted to negotiate with the hacker, offering a 20% bounty for the stolen funds, but those efforts went unanswered. Investigations later revealed that the breach stemmed from admin rights retained by a developer, allowing the attacker to drain the platform’s assets.
The hacker's actions and laundering methods highlight ongoing concerns about security in the DeFi landscape, particularly following a major incident like the Infini breach.
