Infini Hacker Resurfaces, Dumps $16M in ETH as Prices Surge
The notorious hacker behind the $49.5 million Infini exploit has reawakened, moving a hefty 4,770 ETH (≈$16 million) on July 17, 2025 — their first on-chain activity since the February breach.
The maneuver comes just as Ethereum breaks past $3,400, suggesting the attacker is now seeking to lock in profits.
The stolen funds were split across two addresses:
One funneled 3,000 ETH through Tornado Cash, a mixing service frequently used to obscure digital trails.
The other swapped 1,770 ETH for ~$5.9 million in DAI, converting part of the stolen stash into stablecoins — a classic liquidation move.
Back in February, the hacker exchanged the stolen USDC into 17,696 ETH at an average entry of $2,798 per coin.
With ETH’s price rallying, the stolen trove is now worth over $59 million, earning the attacker more than $10 million in gains on top of the initial heist.
Despite Infini’s post-attack attempts to negotiate — offering a 20% bounty and legal immunity in return for fund recovery — the hacker ghosted all communication.
The wallet involved still holds over $38 million in ETH, meaning additional liquidations could follow in the days ahead.
Analysts believe the recent moves are just the beginning of a gradual exit strategy, likely designed to avoid detection. With Tornado Cash still in play and DAI conversions increasing, the chances of fund recovery are slim to none.
A developer’s retained admin privileges were the root cause of the exploit — a major oversight that allowed backdoor access to Infini’s smart contracts. The case now ranks among 2025’s largest crypto breaches, alongside the $1.4M Bybit hack from the same month.
This is more than just a theft. It’s a chilling reminder that even trusted platforms can be one misstep away from disaster.