The hacker behind February’s $49.5 million Infini exploit has started cashing out. In the past hour, they sold 1,770 Ethereum (ETH) for 5.88 million DAI, capitalizing on ETH’s price surge.
The thief originally stole $49.5M on February 24, swapping it for 17,696 ETH at $2,798 per coin. With ETH now near $3,370, the remaining stash is worth $59.6M, locking in over $10M in unrealized profit.
This isn’t random timing. ETH has surged 20% since the hack, mirroring tactics used by Bitrue and Coinbase exploiters who strategically dump coins during rallies. By choosing DAI (a non-freezable stablecoin), the hacker avoids detection.
Security analysts from LookOnChain confirm the exploiter still holds 15,926 ETH ($53.7M). Further sales could trigger market volatility, similar to March’s 14,064 ETH dump that briefly crashed prices 0.76%.
The Infini breach exposed critical DeFi flaws: unrevoked admin privileges. It fuels calls for stricter audits as 2025 crypto heists near $1.74B. Exchanges now deploy real-time tracking, but laundering via tools like Tornado Cash persists.