Simply put
- A hacker wallet that has been inactive since 2023 transferred $3.85 million in Ethereum from the Mixin exploit to Tornado Cash on Thursday.
- The Mixin exploit in September 2023 led to around $200 million being stolen across various blockchains.
- Mixin plans to fully repay the $23 million in MDTu tokens by September 2026.
A wallet connected to the 2023 Mixin hack that caused a $200 million loss has moved $3.85 million to a new wallet. The funds were quickly sent to the coin mixer Tornado Cash.
Late on Thursday, for the first time in two years, the Mixin Hacker Wallet, tracked by blockchain analytics firm Arkham Intelligence, executed a transaction involving $3.85 million in Ethereum. This was sent to an unknown wallet and then immediately transferred to Tornado Cash in 20 separate transactions.
The Mixin exploit traces back to September 2023, when the Hong Kong-based platform Mixin Network halted deposits and withdrawals after hackers drained approximately $200 million from its database.
This breach impacted assets across multiple chains, making it one of the largest infrastructure hacks of the year. Mixin later stated that it would reimburse users for up to 50% of their losses, with the remainder issued as tokenized claims.
The Mixin team confirmed it had reached out to Google and blockchain security firm SlowMist to help investigate the incident.
The hacker’s wallet remained mostly inactive for nearly two years until about $3.85 million was moved on February 12, 2026.
In October 2025, Mixin Network updated users regarding repayment efforts following the exploit.
According to their report, “Following the incident, Mixin Network started a debt registration and repayment process, issuing several Mixin Debt Tokens (MDT), including MDTu, MDTb, and MDTe, each representing claims on different asset categories.”
The team aims to fully repay the approximately $23 million in MDTu by September 23, 2026, although they have not outlined repayment plans for MDTb and MDTe.
Mixin has not shut down following the hack. The company claims to still manage over $1 billion in assets and serve more than a million customers, as it handles cryptocurrency wallets, custody services, and trading infrastructure.
