In brief
- A hacker wallet dormant since 2023 moved $3.85M in Ethereum from the Mixin exploit to Tornado Cash on Thursday.
- The Mixin exploit, which took place in September 2023, drained roughly $200M across multiple blockchains.
- Mixin plans a full repayment of $23M in MDTu tokens by September 2026.
A wallet linked to the 2023 Mixin hack, which resulted in the loss of $200 million, has moved $3.85 million into a new wallet that then immediately sent the funds to coin mixer Tornado Cash.
The first transaction in two years took place late Thursday night, as the Mixin Hacker wallet—which has been tagged by blockchain analytics platform Arkham Intelligence—moved $3.85 million worth of Ethereum to an unknown wallet 0x9c. That wallet then immediately sent all of the funds to Tornado Cash in 20 separate transactions.
The Mixin exploit dates back to September 2023, when Hong Kong-based crypto platform Mixin Network suspended deposits and withdrawals after hackers drained roughly $200 million from its cloud service provider’s database.
The breach affected assets across multiple chains, making it one of the larger cross-chain infrastructure hacks of the year. Mixin later said it would compensate users up to 50% of their losses in stablecoins, with the remainder issued as tokenized claims.
The Mixin team said on X at the time that it had contacted Google and blockchain security firm SlowMist to help with the investigation.
The attacker-controlled wallet had remained largely dormant for nearly two years before moving $3.8 million on February 12, 2026.
In October 2025, the Mixin Network provided an update on its repayment of users who were impacted by the exploit.
“Following the incident, Mixin Network initiated a debt registration and repayment process, and issued the Mixin Debt Token (MDT) series, including MDTu, MDTb, and MDTe, each representing claims for different categories of affected assets,” the team wrote in its blog post.
The team said it intends to fully repay debt represented by MDTu, worth approximately $23 million, but September 23, 2026, but that there’s currently no repayment schedule for MDTb and MDTe.
Mixin did not shut down after the exploit. It still claims to have more than $1 billion worth of assets under management and more than 1 million customers. The team manages a crypto wallet, custody services, and trading infrastructure.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BitMine Acquires 71,179 ETH in Largest Weekly Purchase of 2026 as Strategy Halts Bitcoin Accumulation
BitMine Immersion Technologies (BMNR) acquired 71,179 Ethereum tokens during the week ending March 29, 2026, marking its largest weekly purchase of the year and extending a four-week acceleration in buying activity, while Strategy (MSTR) ended its 13-week Bitcoin accumulation streak.
CryptopulseElite11m ago
Trader pension_usdt_eth opens an approximately $11 million BTC short position on HyperLiquid with 3x leverage
Gate News message: On March 31, according to on-chain analyst The Data Nerd, about an hour ago, the trader pension_usdt_eth opened a BTC short position of about $11 million on the decentralized derivatives exchange HyperLiquid using 3x leverage.
GateNews23m ago
SWIFT launches an Ethereum L2 ledger, with 30 banks working together to build around-the-clock cross-border settlement
SWIFT announced on March 30, 2023 that its blockchain-based shared ledger has entered minimum viable product (MVP) development, with plans to go live in 2026. This ledger was designed by more than 30 financial institutions and supports real-time transfers of tokenized deposits, stablecoins, and central bank digital currencies. SWIFT’s blockchain documentation is intended to address structural issues in traditional cross-border payments, improving efficiency and reducing costs. This permissioned ledger does not use a native cryptocurrency, but instead relies on Ethereum L2 technology.
MarketWhisper42m ago
A new address bought 6,400 ETH within 8 hours, worth $13.08 million
Gate News update: On March 31, according to on-chain analyst Ai姨 (@ai_9684xtpa) monitoring, a new address accumulated a purchase of 6,400 ETH about 8 hours ago, worth approximately $13.08 million, with an average withdrawal price of $2,043.89.
GateNews53m ago
Bitcoin ETF ends a four-week streak of consecutive gains, with IBIT seeing a sudden $200 million in daily redemptions
U.S. spot crypto ETFs saw outflows in the last week of March, with combined outflows from Bitcoin and Ethereum ETFs totaling about $503 million. Although Bitcoin ETFs had net inflows for four weeks, they turned to redemptions this week, mainly due to worsening market sentiment. Ethereum ETFs continued to see outflows, but BlackRock’s ETHB recorded net inflows thanks to its staking feature, indicating institutional interest in yield-generating products. XRP ETFs moved slightly higher against the trend, but this was still not enough to signal a shift in the market toward altcoins.
MarketWhisper1h ago
