A wallet linked to the roughly $200 million 2023 exploit of Mixin Network has resumed activity after nearly two years of dormancy, moving more than 2,000 ETH through the privacy mixer Tornado Cash. According to onchain monitoring account Lookonchain, the funds were deposited into the mixer and then redistributed to several newly created wallets, where the ETH was quickly sold on the market. Despite these movements, blockchain intelligence platform Arkham shows the original address still holds a very large balance of ETH and BTC worth well over $100 million combined at current prices.

The original breach occurred when Mixin’s cloud service database was compromised, resulting in the loss of tens of thousands of ETH, hundreds of BTC, and millions in stablecoins. Following the incident, deposits and withdrawals were temporarily halted, external security partners were engaged, and the project publicly offered a bounty to the attacker for returning funds. The renewed wallet activity fits a common pattern where attackers leave stolen assets untouched for long periods before attempting to launder them through mixers and obfuscation tools. The case also aligns with a wider rise in major crypto security incidents highlighted by Chainalysis, including record-breaking exchange hacks such as the large-scale breach at Bybit.