A wallet associated with the 2023 Mixin Network exploit moved roughly $3.85 million worth of Ethereum after being largely inactive for nearly two years. The funds were transferred to a new address and then split across multiple transactions into Tornado Cash, a crypto mixing service often associated with obfuscating transaction trails.

Background

Mixin Network suffered a major breach in September 2023, when attackers accessed cloud-provider infrastructure and drained an estimated $200 million across multiple chains. The incident became one of the largest cross-chain related hacks of that year.

Key details

- The movement occurred on Feb. 12, 2026, according to blockchain analytics tagging cited by Decrypt.

- The receiving wallet sent the full amount to Tornado Cash in 20 separate transactions.

- Mixin has said it is pursuing repayment processes via debt tokens and has outlined a plan to repay certain claims by September 2026.

Why it matters

Old exploit funds reactivating can signal renewed laundering efforts, enforcement risk for intermediaries, and potential pressure on compliance tooling. It also underscores that even years after major hacks, stolen funds can re-enter circulation and affect market integrity narratives.

What to watch

Follow whether exchanges flag related addresses, whether investigators connect the movement to known threat actors, and whether Mixin’s repayment plans progress as scheduled.

Source: Decrypt