mixin

📅 February 13 | A wallet linked to the $200 million hack of the Mixin Network in September 2023 reactivated its activity after nearly two years of inactivity, sending thousands of ether to Tornado Cash.

📖 According to on-chain data shared by Lookonchain, the address transferred 2,005 ETH, valued at approximately $3.85 million, to the privacy mixer.
Shortly after, three newly created wallets collectively received 2,087 ETH—about $4.03 million—from Tornado Cash and sold the tokens at a price close to $1,933 per ETH. The maneuver suggests a classic obfuscation attempt before liquidating some of the assets.
Even so, the bulk of the loot remains intact. The associated wallet still holds 57,849 ETH (around $113.4 million) and 891 BTC (about $59.7 million), according to public data from Arkham. These figures match the original theft, which included 59,854 ETH, 891 BTC, and approximately $23.57 million in USDT, later converted to DAI.
The attack on Mixin occurred when its cloud service provider's database was compromised. Following the incident, the platform suspended deposits and withdrawals, contacted Google and the security firm SlowMist, and even offered a $20 million reward to the attacker via an on-chain message. The episode also raised questions about the project's true level of decentralization.
This recent event comes amid a particularly challenging year for the industry. According to Chainalysis, over $3.4 billion in cryptocurrencies were stolen in 2025, driven by major incidents such as the record-breaking $1.5 billion Bybit hack, as well as an increase in attacks on centralized services and individual wallets.

Topic Opinion:
Attackers can hold funds dormant for years until they perceive favorable conditions to move them. On-chain transparency allows for tracking, but not always recovery.
💬 Do you think these funds can eventually be traced and blocked?

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