Headline: $3.85M of Ethereum tied to 2023 Mixin hack moved to Tornado Cash after long dormancy
A wallet linked to the September 2023 Mixin Network breach—one of that year’s largest cross-chain exploits—suddenly moved $3.85 million worth of Ethereum on Feb. 12, 2026, and immediately forwarded the funds into the coin mixer Tornado Cash.
Blockchain intelligence firm Arkham Intelligence has tagged the source address as the attacker-controlled wallet tied to the original Mixin incident. According to on-chain traces, the tagged wallet sent 3.85 ETH (worth $3.85M) to an intermediary address labeled 0x9c, which then split and routed the full amount to Tornado Cash across 20 separate transactions — a common tactic to obfuscate fund provenance.
Quick background: in September 2023 Mixin Network suspended deposits and withdrawals after attackers drained roughly $200 million from its cloud provider’s database, impacting assets across multiple chains. Mixin engaged Google and security firm SlowMist in the investigation and later announced a compensation plan for affected users: up to 50% of losses paid in stablecoins, with the remainder issued as tokenized claims.
Repayment update and tokenized claims: In October 2025 Mixin outlined its debt-repayment framework, creating the Mixin Debt Token (MDT) series—MDTu, MDTb, and MDTe—each representing claims on different asset categories. The team said it intends to fully repay MDTu (roughly $23 million) by Sept. 23, 2026; no repayment timetable was provided for MDTb and MDTe.
Despite the exploit, Mixin remains operational. The platform says it still manages over $1 billion in assets and serves more than one million customers across wallet, custody and trading services.
Why this matters: The movement marks one of the first significant on-chain activities from the attacker wallet after nearly two years of dormancy and highlights the persistent risks mixers pose for tracking stolen crypto. On-chain watchers and affected users will likely follow subsequent flows closely for signs of further cashouts or attempts to convert funds into fiat or other tokens.
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