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{"actor":"system:backfill","investigation_id":"e12ac5bb-f642-49d6-8467-1c72ad1d83bb","kind":"publish","page_slug":"mixin-network","published_at":"2026-05-20T18:22:04.502Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Mixin Network","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://cryptopotato.com/mixin-a-multi-layer-decentralized-network-that-offers-cross-chain-solutions-lightning-fast-transactions/"},{"credibility":3,"name":"","type":"other","url":"https://www.aicoin.com/en/article/367445"},{"credibility":3,"name":"","type":"other","url":"https://tokeninsight.com/en/news/mixin-founder-feng-xiaodong-will-compensate-up-to-50-of-losses"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.elliptic.co/blog/mixin-network-hacked-for-200-million"},{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/tech/2023/09/25/mixin-network-losses-nearly-200m-in-hack"},{"credibility":3,"name":"","type":"other","url":"https://www.bleepingcomputer.com/news/security/mixin-network-suspends-operations-following-200-million-hack/"},{"credibility":3,"name":"","type":"other","url":"https://techcrunch.com/2023/09/25/hackers-steal-200-million-from-crypto-company-mixin/"},{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/explained-the-mixin-network-hack-september-2023"},{"credibility":3,"name":"","type":"other","url":"https://www.securityweek.com/200-million-in-cryptocurrency-stolen-in-mixin-network-hack/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.merklescience.com/blog/hack-track-mixin-flow-of-funds-analysis"},{"credibility":3,"name":"","type":"other","url":"https://www.elliptic.co/blog/mixin-network-hacked-for-200-million"},{"credibility":3,"name":"","type":"other","url":"https://decrypt.co/358032/3-million-ethereum-mixin-network-hack-tornado-cash"},{"credibility":3,"name":"","type":"other","url":"https://financefeeds.com/mixin-network-hacker-moves-2005-eth-to-tornado-cash-after-2-years-of-silence/"},{"credibility":3,"name":"","type":"other","url":"https://finance.yahoo.com/news/3-85-million-ethereum-mixin-175053959.html"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.theblock.co/post/252716/mixin-network-founder-says-just-half-users-assets-are-safe-after-200-million-hack"},{"credibility":3,"name":"","type":"other","url":"https://bitcoinist.com/mixin-network-offers-hacker-20-million-bug-bounty/"},{"credibility":3,"name":"","type":"other","url":"https://www.bitget.com/news/detail/12560603893640"},{"credibility":3,"name":"","type":"other","url":"https://support.mixin.one/en/article/what-is-mdt-token-77n05i/"},{"credibility":3,"name":"","type":"other","url":"https://www.dlnews.com/articles/defi/questions-swirl-around-hack-at-hong-kong-network-mixin/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://mixin.one/features/compliance"},{"credibility":3,"name":"","type":"other","url":"https://www.bankinfosecurity.com/cryptohack-roundup-200m-mixin-network-hack-a-23185"},{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/policy/2025/12/25/hong-kong-regulators-target-2026-legislation-for-virtual-asset-dealer-and-custodian-rules"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/explained-the-mixin-network-hack-september-2023"},{"credibility":3,"name":"","type":"other","url":"https://www.elliptic.co/blog/mixin-network-hacked-for-200-million"},{"credibility":3,"name":"","type":"other","url":"https://financefeeds.com/mixin-network-hacker-moves-2005-eth-to-tornado-cash-after-2-years-of-silence/"},{"credibility":3,"name":"","type":"other","url":"https://www.dlnews.com/articles/defi/questions-swirl-around-hack-at-hong-kong-network-mixin/"}]}],"sources_used":[],"summary":"Mixin Network is a Hong Kong-based layer-2 cross-chain payment protocol that suffered the largest single crypto hack of 2023 when attackers compromised its cloud service provider's database and drained approximately $200 million in ETH, BTC, and USDT. The network remains operational but has only partially compensated users, the majority of stolen funds remain unrecovered, and a dormant attacker wallet moved funds to Tornado Cash in February 2026.","timeline":[{"date":"2017-11-01","event":"Feng Xiaodong establishes the Mixin blockchain team in Hong Kong with fewer than 20 people.","source":""},{"date":"2023-09-23","event":"Attacker compromises the database of Mixin Network's cloud service provider; approximately $200 million in ETH, BTC, and USDT drained via 10,000+ unauthorized withdrawal transactions.","source":""},{"date":"2023-09-25","event":"Mixin Network publicly discloses the breach, suspends all deposits and withdrawals, and contacts SlowMist and Google for investigation support.","source":""},{"date":"2023-09-25","event":"Founder Feng Xiaodong holds live briefing; announces 50% immediate stablecoin repayment and 50% via future bond tokens (MDT).","source":""},{"date":"2023-09-26","event":"Mixin offers attacker a $20 million bug bounty for return of stolen funds. Offer is not accepted.","source":""},{"date":"2023-09-26","event":"Elliptic, Merkle Science, and Lookonchain publish on-chain analysis confirming asset breakdown: 59,807 ETH, 891 BTC, 23.57M USDT. Attacker immediately swaps USDT to DAI on Uniswap.","source":""},{"date":"2024-02-01","event":"Mixin Kernel officially launches Mixin Debt Token (MDT) in three tranches (MDTu, MDTe, MDTb) as the mechanism for the 50% deferred repayment.","source":""},{"date":"2025-10-01","event":"Mixin provides repayment update: MDTu (~$23 million) targeted for full repayment by September 2026; no timeline disclosed for MDTe or MDTb.","source":""},{"date":"2026-02-12","event":"Dormant attacker wallet moves 2,005 ETH ($3.85 million) through three newly created wallets to Tornado Cash — first movement of stolen funds in over two years. Remaining balance: approximately 57,849 ETH and 891 BTC.","source":""}]},"v":1}