UPDATE: Mercado Bitcoin hacker swaps altcoins into ETH as total losses reach up to $49M
CIE News ·
Update to UPDATE: Mercado Bitcoin pledges to cover losses as $11 million frozen after hack
Based on reporting by The Defiant; not yet independently confirmed.
Following the multi-chain hack of Mercado Bitcoin, attackers swapped 136 altcoins into ETH on November 4, 2026, as total losses were updated to between $38 million and $49 million.
Attackers behind the recent breach of Mercado Bitcoin were tracked on November 4, 2026, converting 136 stolen altcoins into between $10.55 million and $11.9 million in Ethereum (ETH). As previously reported, the exchange pledged to cover all customer losses after an exploit originally estimated at near $40 million.
According to analytics firm Arkham, the hacker executed 338 swaps through MetaMask Router to obtain 4,605 ETH, selling tokens such as PEPE, Aave (AAVE), and VIRTUAL across multiple wallets. Chainalysis and Arkham also monitored fund movements across external addresses. The theft impacted hot wallets and deposit addresses across more than 10 blockchains, with overall losses now estimated between $38 million and $49 million.
Mercado Bitcoin stated that $11.2 million in assets has been successfully frozen with the assistance of partners, including Tether and Circle. According to thepaypers.com, deposits and withdrawals on the platform remain temporarily suspended while the exchange continues its investigation.
Key facts
- $38M-$49M total theft
- 136 altcoins swapped to ETH
- $11.2M in assets frozen
- Withdrawals halted
Read the original at The Defiant