The hacker behind the $49.5 million Infini theft has made new moves in the crypto market. Earlier today, they sold 1,771 ETH for $7.44 million, taking advantage of Ethereum’s recent price rise. This trade is part of their plan to cash out stolen funds and highlights security problems in decentralized finance (DeFi).
Hacker Continues to Trade
As reported by the on-chain platform, Lookonchain, the hacker sold 1,771 ETH at $4,202 per coin, earning significant profits today. Earlier, on July 17, they sold 1,770 ETH for $5.88 million and funneled 4,501 ETH, worth $15.03 million, through Tornado Cash. They still hold 9,154 ETH, valued at about $38.85 million, benefiting from Ether’s climb past $3,400.
This hack happened on February 24, 2025, when a former developer misused their admin powers in Infini’s smart contract. They took $49.5 million in USDC, swapped it for DAI, and bought 17,696 ETH at $2,798 each. The hacker used Tornado Cash on July 17 to hide the 4,501 ETH transaction.
The Infini hacker has continued trading, which has earned them over $10 million, showing the ongoing security concerns in DeFi. Infini offered a 20% reward for recovering the stolen funds and promised no legal action, but the hacker remains unresponsive, likely due to the anonymity provided by Tornado Cash.
Crypto Hacks: A New Normal
The crypto space has seen an increase in cases of hackers using looted funds for regular trading. For instance, in July 2025, a hacker behind the $42 million GMX exploit was offered a $5 million bounty to encourage the return of the loot. The hacker, although agreeing, withheld $44 million, with some of it swapped for 11,700 ETH, now worth over $49 million.
Meanwhile, hackers have continuously used the crypto mixer Tornado Cash to move these funds, which has drawn attention. This platform, which mixes crypto to protect user privacy, has become popular among hackers who plan to keep their nefarious activities hidden. Just recently, a U.S. jury found Tornado Cash developers guilty of helping with money laundering relating to hacks by groups like North Korea’s Lazarus.
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