Mixin Network
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·HPUG5L…GtapSummary
Mixin Network is a Hong Kong-based cross-chain Layer 2 protocol that suffered one of the largest cryptocurrency hacks of 2023, losing approximately $200 million when its cloud service provider's database was compromised on September 23, 2023. The hack exposed a fundamental contradiction in Mixin's self-described decentralized architecture: the majority of user funds were held in hot wallets backed by a centralized cloud database. As of early 2026, the majority of stolen assets remain unrecovered, with the attacker beginning to launder funds through Tornado Cash.
Connected Entities
8 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Monero→mentioned with→Binance(70%)
- Monero→mentioned with→Bitcoin(60%)
- Binance→mentioned with→Tether(60%)
- Binance→mentioned with→Ethereum(65%)
- Uniswap→mentioned with→Bitcoin(60%)
- Uniswap→mentioned with→Ethereum(80%)
- Mixin Network→mentioned with→Monero(60%)
- Mixin Network→mentioned with→Binance(60%)
- Tether→mentioned with→Bitcoin(60%)
- + 8 more
Timeline(7 events)
23 September 2023
Mixin Network's cloud service provider database is compromised, allowing attackers to drain approximately $200 million across multiple chains including ETH, BTC, and USDT.
Elliptic / TechCrunch25 September 2023
Mixin Network publicly discloses the breach. Deposit and withdrawal services are suspended. Founder Feng Xiaodong holds a livestream announcing a 50% cash / 50% bond token compensation plan.
CoinDesk / DeFi Planet25 September 2023
Mixin Network sends an on-chain message to the alleged attacker, offering them $20 million as a bug bounty in exchange for returning the remaining stolen funds. The offer is not accepted.
Benzinga25 September 2023
Elliptic publishes on-chain forensics analysis, identifies stolen asset breakdown ($95.3M ETH, $23.7M BTC, $23.6M USDT) and labels attacker wallets in its screening tools. Hackers convert stolen USDT to DAI via Uniswap to avoid asset freezes.
Elliptic25 September 2023
Merkle Science publishes flow-of-funds analysis identifying 11,400+ ETH wallets controlled by Exploiter 1, 127 BTC wallets, and tags laundering methods including DEX swaps and cross-chain bridges.
Merkle Science12 February 2026
After approximately two years of dormancy, the primary attacker wallet (tagged 'Mixin Hacker' by Arkham Intelligence) begins moving funds, transferring 2,005 ETH (~$3.85M) to Tornado Cash via 20 separate transactions through intermediate address 0x9cba859288Fa0b4eC43EBB90Bb64a9DbBDDc787f.
Decrypt / The Block13 February 2026
Three newly created wallets receive a combined 2,087 ETH from Tornado Cash and sell the tokens at approximately $1,933 per ETH. Attacker wallet still holds approximately 57,849 ETH and 891 BTC, representing the large majority of originally stolen assets.
Decrypt / FinanceFeedsDecision Log
- hash: 87RLpgkLtjoionYpXwWyTPViY4tFmZKvCYCg4oEjXFhx
This investigation is cryptographically anchored to the Solana blockchain (1 event).
model: claude-sonnet
generated: 5/4/2026, 4:05:02 PM
last updated: 5/26/2026, 4:11:15 AM
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