People travelled from as far as Newcastle, Nottingham and London to attend the event at Canalside accommodation, Birmingham on Friday.
Officers said, 'Covid is real', as they opened up a closet to find people, adding 'you will receive a fine'.
As the party-goers emerged from the closet, one by one, a shocked officer said: 'Wow, any more?'
Around 50 Fixed Penalty Notices were issued by police for breach of coronavirus regulations.
One officer was assaulted as a student bolted, although he was unhurt.
Police say they are trawling through CCTV to identify him, adding: 'We take the safety of our officers very seriously.'
The camera footage shows police making their way through the premises and as they found more people hiding in the kitchen.
They also found others at the 'very, very top floor' and were knocking on doors to try and hide inside a flat.
Inspector Steve Barnes, who was in charge of the operation, said: 'We understand that young people are frustrated at not being able to enjoy themselves and I do feel their pain, but we have to stick to the rules so that we can get back to some sort of normality sooner rather than later.
'People are dying and we have to prevent the spread of this virus.
'We hear the criticism that some are saying about our actions to police restrictions and, we more than anyone, want to concentrate on catching criminals, so my message is clear – stick to the rules and let us do our job of protecting communities and solving crime.'
West Midlands Police said it is working with the university to identify the organiser and to help improve security to stop any further parties.
The camera footage shows police making their way through the premises and as they found more people hiding in the kitchen
Police were shocked at how many people were hiding inside the closet with one officer exclaiming, 'wow, any more?'
People travelled from as far as Newcastle, Nottingham and London to attend the risque event
This is the moment laughing revellers fled a block of student flats to escape police
West Midlands Police said it is working with the university to identify the organiser and to help improve security to stop any further parties
The clip shows around a dozen people emerging from a doorway as they left Birmingham's Canalside apartments just after 3am
But the student party was just one of 32 incidents attended by police.
Others included a 30th birthday party in Kingstanding and a gathering at a shop in Soho Road.
A total of 58 £200 fines were issued along with five £1,000 fines, which are usually given to the organisers or gatherings.
But police said on general patrol, the restrictions were being adhered to.