Infini exploiter sold 1,771 ETH for $7.44M, retaining 9,154 ETH worth $38.85M.
February breach saw $49.5M stolen via retained administrative privileges.
July transactions included $15.03M sent to Tornado Cash and $5.88M in ETH sales.
A hacker responsible for a $49.5 million breach at crypto neobank Infini earlier this year has liquidated part of the stolen assets. According to an X post by Lookonchain, the individual has recently sold 1,771 ETH, valued at $7.44 million, at approximately $4,202 per ETH. Despite a continued series of transactions, the hacker still holds 9,154 $ETH($38.85M).
https://twitter.com/lookonchain/status/1954710460357566528 February Breach Drained $49.5 Million
In late February, blockchain analytics firm Cyvers reported that the attacker was a former Infini developer with retained administrative privileges. The individual accessed a private key linked to an account with withdrawal permissions, draining funds in two transactions worth $11.45 million and $38.06 million.
https://twitter.com/CyversAlerts/status/1893903649916555556
The stolen USDC was converted to Dai (DAI) and then swapped for 17,696 ETH at $2,798 each. The funds were moved to a secondary address before portions were sent through Tornado Cash. Cyvers stated the attacker maintained administrative access undetected for over 100 days.
Infini founder Christian Li acknowledged the incident publicly, attributing it to negligence in transferring authority. Li assured users that liquidity remained unaffected and withdrawals would continue. The team pledged full compensation if recovery failed and offered the hacker 20% of the stolen amount for the return of assets.
Earlier Movements in July and Current Holdings Revealed
According to the available market data, the hacker conducted major transactions in July, sending 4,501 ETH worth $15.03 million to Tornado Cash on July 17. That activity followed the sale of 1,770 ETH for $5.88 million at $3,321 per ETH..
Infini’s official statement confirmed all other platform functions remained operational following the exploit. After the latest sale, the exploiter still controls 9,154 ETH, valued at approximately $38.85 million at current market prices. The movement of funds during periods of ETH price increases has drawn attention from blockchain analysts monitoring stolen asset flows.
The Infini breach occurred just days before a separate major incident involving crypto exchange Bybit, which lost $1.4 billion in Ethereum and related tokens. Blockchain platform Arkham Intelligence attributed the Bybit hack to the North Korean state-sponsored Lazarus Group, linking the activity to prior attacks.
According to Chainalysis, more than $2.2 billion in crypto was stolen last year, with half tied to North Korean groups. The Infini case remains under active monitoring, with investigators tracking remaining holdings and potential attempts to move or cash out funds.
