November 5, 20261 min read0 views

Mercado Bitcoin Hack-Linked Wallet Converts Stolen Tokens Into $10.55M in Ether

Arkham described an intermediary wallet as connected to the Mercado Bitcoin hack and said it converted tokens it identified as stolen into about $10.55 million in Ether (ETH), an on-chain movement tied to the incident.

The wallet's activity also included a separate cross-chain transaction involving about $650,000 in assets routed through Bridgers for conversion into Bitcoin (BTC). The…

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The wallet's activity also included a separate cross-chain transaction involving about $650,000 in assets routed through Bridgers for conversion into Bitcoin (BTC). The transaction appears to have been intercepted. The ETH conversion and the attempted BTC swap were separate movements.

An accompanying graphic showed about $31.23 million in assets held by an entity Arkham labeled as involved in the hack. That balance describes the entity's holdings, not the size of either transaction. The update points to multiple wallet movements around the incident, with the ETH conversion completed and the Bridgers-to-BTC transaction apparently blocked.