After years, a movement has been noted in the Ether stolen from Voltage Finance in 2022, Certik said in a X post dated May 06, 2025, that the hacker has moved 100 ETH using Tornado Cash.
It is worth noting that decentralized lending protocol Voltage Finance was hacked for $4.67 million in 2022. Hackers succeeded in breaching the platform by using a trick called a reentrancy attack.
Using reentrancy attacks, a bad actor can repeatedly withdraw funds before the system can update the balance properly. Following the exploit in 2022, the lending protocol said that it had lost several stablecoins, including wrapped Bitcoin, Ethereum, Binance USD, and a few others.
In the same X threat, Certik notes that ” the hack was made possible due to the incompatibility between the Compound fork and ERC677/ERC777-based tokens, which have the built-in callback functions misused to allow for reentrancy to drain the lending pool.”
The transfer of funds to Tornado Cash in 2025 suggests that the attacker is still active, and law enforcement or blockchain researchers might monitor associated addresses.
Use of crypto mixers has been growing over the years
According to Chainalysis, crypto mixer usage increased significantly between 2020 and 2022. In April 2022, inbound volumes peaked at a 30-day moving average of $51.8 million, which was almost 2x compared to the previous year.
With 23% of mixer funds originating from unlawful addresses in 2022, up from 12% in 2021, this increase was driven by the growth of centralized exchanges, illicit activities, and decentralized finance (DeFi) protocols.
A study by blockchain analysis firm Arkham Intelligence underlines that the hacker moved 1,100 ETH in a single week, using Tornado Cash to transfer cash from the November 2023 Poloniex exchange attack, which cost $112 million.
On the other hand, PeckShield discovered in April 2025 that $1.5 million in assets taken from the FixedFloat exchange breach were being laundered using Sinbad(dot)io, a mixer that became a Tornado Cash substitute after penalties.
In terms of legitimacy, activists and journalists have been using mixers like Wasabi Wallet’s CoinJoin more frequently in 2024–2025, especially in areas with stringent financial surveillance, such as parts of Southeast Asia and Eastern Europe.
A quick dive into crypto market prices
As of writing, the crypto market cap was $3 trillion with an addition of 2.48%, and at the same time, the trading volume grew more than 30%, reaching $81.8 billion. The crypto fear and greed index is at 53, indicating neutrality in the market sentiment.
In the intraday frame, Bitcoin succeeded in breaking the mark of $95k and until publishing it is exchanging hands at $97,001 with a surge of 2.86%, Ethereum has also registered a mild bullish but is still trading below $2k at $1,840.
According to the data from CoinMarketCap, the intraday gainers list has been ruled by Litecoin, Stacks, Worldcoin, Quant, Hyperliquid, EOS, Injective, Ethereum Name Service, and Flare.
