Ethereum Hacker Moves Stolen ETH After Two Years in Dormancy
Analysis
Price Impact
HighA hacker related to the mixin network exploit is moving and selling large amounts of stolen ethereum (over $117m total, with $3.85m already moved and fragmented via tornado cash). this significant influx of eth into the market, combined with other institutional selling pressure (like blackrock), is creating strong downward pressure on price.
Trustworthiness
HighThe information is sourced from lookonchain, a highly reputable on-chain analytics firm, and reported by u.today, detailing specific transaction amounts and wallet activities which are verifiable on the blockchain.
Price Direction
BearishThe ongoing sell-off by the hacker, who has already liquidated a portion of the stolen funds and is expected to continue with the remaining large stash, directly increases the supply of eth on exchanges. this, alongside other noted institutional selling, is projected to keep ethereum's price in a 'deep drawdown' in the coming weeks.
Time Effect
ShortThe immediate impact of the hacker's selling is already observed (eth down 1.3% in 24 hours). while the full $117m might not be dumped instantly, the article suggests 'coming weeks' for continued drawdown, indicating a short-term to medium-term negative pressure.
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Article Content:
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News A hacker address implicated in the exploit of Mixin network is back to life after two years of inactivity. As flagged by Lookonchain, the hacker’s wallet address appears to be selling the siphoned funds with the aid of popular crypto mixer Tornado Cash. Advertisement Ethereum sell-off initiated by Mixin hacker Per the insight from Lookonchain, in the past 15 hours, the hacker has sent 2,005 Ethereum, valued at $3,850,000, to Tornado Cash. This marked the start of other transactions, as three new wallets also received 2,087 ETH. These fragmented ETH have a value of $4.03 million, and through Tornado Cash, they were sold at a market price of $1,933. As of writing time, the price of Ethereum was changing hands for $1,971.30, implying that the hacker sold at a loss with differences in valuation. Note that #MixinHacker , who previously stole $200M, appears to be selling 59,854 $ETH ($117M) after 2 years of inactivity! 15 hours ago, he sent 2,005 $ETH ($3.85M) to #TornadoCash . Soon after, 3 new wallets received 2,087 $ETH ($4.03M) from #TornadoCash and sold it at $1,933.… pic.twitter.com/8ujC2Berfz — Lookonchain (@lookonchain) February 13, 2026 As with many scam alert trends, attackers often lie low after their exploit to stall investigations into their nefarious acts. Mixin network was exploited in 2023, with the hacker siphoning 57,849 Ethereum worth $113.4 million. At the time, the exploit also led to the loss of 891 BTC, worth $59.7 million, and 23.57 million USDT, which was converted into DAI stablecoin. More selling pressure for ETH The market sentiment around Ethereum is growing more negative as different sell-off avenues have emerged in the past 24 hours. You Might Also Like Mon, 01/05/2026 - 07:59 Scam Alert: Major Crypto Wallet MetaMask Users Targeted by 2FA Attack By Arman Shirinyan U.Today previously noted that BlackRock moved millions in Ethereum to Coinbase, extending its dump of the largest altcoin. With less observable Ethereum retail accumulation to shift the trend, the price of ETH is poised to remain in a deep drawdown in the coming weeks. While Bitmine is helping to cushion the sell-off with purchases and staking of the Ethereum in its treasury, the net sell-off needs to reverse for an ultimate price rebound. As of writing time, the coin was priced at $1,970, down 1.3% in the past 24 hours, per CoinMarketCap data. #Ethereum #Scam Alert