Mercado Bitcoin hackers swap $11M in stolen altcoins for ETH

What happened

Attackers who drained Brazilian crypto exchange Mercado Bitcoin’s hot wallets and customer deposit addresses on November 2, 2026, swapped more than 136 stolen tokens into ETH from November 3 to 4. The headline values the swap at $11M; a roughly $650,000 attempt to move funds into Bitcoin appears to have stalled.

Confirmed

Global impact / market context

Moving many small tokens into ETH consolidates the stolen funds in one asset that the article says is easier to trade in large amounts. If the conversion is completed, the attacker’s ability to move or sell the funds may improve, while customers and the exchange face recovery and loss uncertainty.

Analyst inference

The article reports estimates of $10.55 million to $11.9 million converted, so the exact amount remains uncertain. It describes the Bitcoin bridge transfer—a route for moving assets between blockchains—as apparently stalled, leaving ETH conversion as the main reported movement of the stolen funds.

Analyst inference

What to watch

1. Watch for further reported transfers from the wallets linked to the breach, especially whether the ETH is moved again or sold; either could reveal how the attacker is cashing out. Analyst inference
2. Look for updates on the roughly $650,000 Bitcoin bridge transfer, including whether it remains stalled or resumes, since the article describes the attempt as apparently halted. Analyst inference
3. Check for a confirmed account of the breach’s impact on Mercado Bitcoin and affected customers; the supplied article says funds were taken from hot wallets and customer deposit addresses. Analyst inference

Affected assets

• BTC — Bitcoin
• ETH — Ethereum

Evidence

• cryptobriefing.com