Crypto Sleuths Track $50M Infini Exploit Wallet as It Bounces Back from the Dead

In a jaw-dropping twist that has the crypto world buzzing, the wallet tied to the infamous $50 million Infini exploit has roared back to life—nearly a year after the breach—snatching up millions in Ether during last week’s brutal market crash before vanishing into the crypto-mixing shadows.

According to cutting-edge blockchain intelligence from Arkham, the so-called “Infini exploiter” wallet scooped up a staggering $13.3 million worth of Ether (ETH) as the price plunged to $2,109, just as the broader crypto market was getting pummeled. The wallet then funneled the freshly bought ETH straight into the privacy-protecting Tornado Cash mixer, making it nearly impossible to trace the funds’ next move.

“He seems very good at buying low and selling high,” quipped blockchain tracking service Lookonchain in a viral Monday post on X, highlighting the attacker’s uncanny knack for market timing.

This marks the first on-chain activity from the wallet since August 2025, when it cashed out roughly $7.4 million in ETH near $4,202—close to Ethereum’s yearly peak at the time. Talk about a master of the market cycle!

The Timing Couldn’t Be More Suspicious

The renewed activity comes hot on the heels of one of crypto’s most brutal liquidation events in history. Last week, the markets logged their 10th-largest liquidation event ever, with a mind-blowing $2.56 billion in leveraged positions wiped out in a matter of hours, according to Coinglass data.

Ether itself took a nosedive, briefly sinking to $1,811—a nine-month low last seen in early May 2025, as per TradingView charts. For the Infini exploiter, it was the perfect storm to strike, buying the dip while the rest of the market was in full-blown panic mode.

The $50 Million Question: Where Did the Money Go?

Rewind to February 2025, when stablecoin payment company Infini was rocked by a devastating $50 million exploit. The breach was suspected to have been orchestrated by a rogue developer who retained backdoor admin privileges even after the project’s delivery. The stolen USDC (USDC) was swiftly swapped for Dai (DAI) stablecoins—chosen precisely because DAI has no freeze function, making it the perfect getaway vehicle for crypto thieves.

Now, a year later, the attacker is still at large—and still playing the crypto markets like a pro. The latest ETH purchase suggests the exploiter isn’t planning to exit quietly but is instead using the stolen funds to chase even bigger profits through savvy trading.

Infini Strikes Back: Hong Kong Lawsuit and On-Chain Warrants

Infini isn’t taking this lying down. Just a month after the hack, the company filed a Hong Kong lawsuit against developer Chen Shanxuan and three unidentified individuals suspected of involvement in the breach.

In a groundbreaking move, the Hong Kong court sent an injunction order directly to the attacker’s wallet via an on-chain message—complete with a writ of summons for the defendants. This tokenized legal notice, delivered via the blockchain, marks a new frontier in crypto justice.

Infini had previously offered a 20% bounty to the hackers if they returned the stolen funds, claiming to have gathered IP and device information on the culprits. So far, however, the attacker remains at large, and the $50 million is still missing.

Cointelegraph reached out to Infini for comment on the status of the legal battle and the recovery efforts, but had not received a response by publication.

Crypto’s Cat-and-Mouse Game Intensifies

The Infini case is just the latest in a string of high-profile crypto heists that have kept blockchain sleuths and law enforcement on their toes. As privacy tools like Tornado Cash become more sophisticated, tracking down stolen funds is becoming an increasingly complex game of digital cat-and-mouse.

With the Infini exploiter now back in action, the crypto community is left wondering: will this master thief ever be caught, or will they continue to outsmart the system, one dip at a time?

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