Infini Hacker Moves $16M in ETH Amid Crypto Market Rally

Highlights:

• Infini hacker cashes out $16M in ETH amid market rally.
• $5.9M converted to DAI, $3,000 ETH laundered via Tornado Cash.
• Hacker still holds $38M in ETH, hinting at more sell-offs.

The wallet tied to the Infini hacker has been reactivated for the first time since February 2025. On July 17, the address transferred 4,770 ETH, which is now estimated to be about $16 million. These trades are indicators of the strategic selling of Ethereum as its price is steadily increasing.

The hacker initially exchanged $49.5 million worth of USDC for 17,696 ETH with an average price of $2,798. The accumulated stash has now reached approximately $59 million, with ETH currently valued at above $3,400. This reflects an over $10 million gain on the original conversion.

The fresh movements occur after a long silence, having no precedents of activity registered since the breach in February. The transfer of funds in the wallet was divided into two addresses. One address used Tornado Cash, a well-known privacy blender, and moved 3,000 ETH. The second one exchanged 1,770 ETH at the price of $5.9 million in DAI, a stablecoin pegged to the dollar.

#PeckShieldAlert #Infini Exploiter has transferred 4,770 $ETH (worth ~$16M) to 2 addresses
The address 0x7142…fa41 has laundered 3K $ETH via #tornadocash
The address 0x762d…F9FB has swapped 1,770 $ETH for ~5.9M $DAI pic.twitter.com/usIdcvYRWM

— PeckShieldAlert (@PeckShieldAlert) July 17, 2025

Market Rally Triggers Partial Liquidation

The period of these transfers coincides with the price boom of Ethereum lately, which indicates that the Infini hacker intends to secure their profit. Experts think that this is not an outright liquidation but a profit-taking period. The wallet currently has more than 11,000 ETH, which are worth about $38 million according to the current prices.

Because Tornado Cash obscures the transaction history, it might not be easy to track its further location. The rest of the ETH may be transferred at any time, depending on the situation on the market. In case the prices continue to increase, more selling may take place to maximize profits.

Earlier this year, Infini offered a 20% bounty in an attempt to retrieve the stolen funds. The company also offered to have no legal implications in case the assets were returned. The hacker, however, disregarded all forms of communication. Rather than negotiate, they decided to wait until they got favorable market conditions to sell the ETH.

Smart Contract Flaw Enabled $49.5M Exploit

The original exploit was through a developer who still had administrative access to the Infini smart contract. Investigators discovered that this access permitted the attacker to withdraw the cash without resistance. The hack is one of the biggest crypto breaches in 2025. The breach affected Infini’s core infrastructure, shuttering it and ruining its users’ reputation and trust. This breach occurred alongside another $1.4 million hack of Bybit, increasing the level of concern throughout DeFi.

As the Infini hacker continues to access the wallet, it proves that they still have a significant amount of stolen ETH under their control. Such activities demonstrate the importance of smart contract security in decentralized platforms. The recent selling pressure has so far been absorbed in the Ethereum market. However, significant liquidations in a short time could have an effect on the price movements.