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Mercado Bitcoin hacker sells over $10M in stolen altcoins for ether

Two days after a $46 million exploit of crypto exchange Mercado Bitcoin, wallets tied to the attacker have begun liquidating stolen altcoins and swapping them into ether, according to blockchain intelligence firm Arkham.

Arkham portfolio dashboard displaying holdings of the Mercado Bitcoin Hacker entity totaling over $31 million, including ETH and BTC balances.
Image: @arkham

The hacker responsible for the $46 million Mercado Bitcoin breach has moved and liquidated millions of dollars in stolen tokens, converting the majority into ether, according to blockchain intelligence firm Arkham. Hop wallets tied to the perpetrator sold stolen altcoins for $10.55 million in ETH after initially moving $11.45 million in altcoins to multiple addresses for disposal.[1][2][4]

Arkham identified 0x469189223f286b51198163b4Eb5a1e532669523d as an address where the hacker appeared to be consolidating ETH transfers. Concurrently, an attempted cross-chain transfer of $650,000 to Bitcoin through Bridgers appears to have been halted. The dumped tokens included PEPE, AAVE, UNI, ONDO, and ENA, which were swapped directly into ETH, according to on-chain analytics reported by Crypto Banter via Lookonchain.[1][2][3]

Arkham's on-chain data visualizer tracks roughly $29.8 million in transfer volume across 1,000 transactions, 234 tokens, and six blockchains linked to the entity. Following the sell-offs, Arkham's portfolio dashboard showed the hacker entity retaining approximately $31.24 million spread across 65 addresses, with major remaining reserves including 3,686 ETH valued at $8.52 million, 106.068 BTC worth $8.29 million, 5.032 million USDT, and 3.033 million USDC.[2]

Key facts

  • Mercado Bitcoin suffered an exploit resulting in roughly $46 million in stolen crypto assets, according to Arkham.
  • Arkham reported the hacker transferred $11.45 million in altcoins to different addresses and sold tokens for $10.55 million in ETH through hop wallets.
  • The attacker accumulated ETH at address 0x469189223f286b51198163b4Eb5a1e532669523d, according to Arkham data.
  • A $650,000 bridge transaction to Bitcoin using Bridgers appears to have been halted, per Arkham.
  • The sold altcoins included PEPE, AAVE, UNI, ONDO, and ENA, according to on-chain data reported by Lookonchain via Crypto Banter.
  • Arkham's entity dashboard displays about $31.24 million remaining across 65 addresses tied to the hacker, including 3,686 ETH, 106.068 BTC, 5.032 million USDT, and 3.033 million USDC.

Sources · 3 sources

  1. AR

    Arkham@arkhamPost on X ·

    The Mercado Bitcoin Hacker is selling off the stolen funds. He has currently moved $11.45M of alts out to different addresses to be sold. The hacker appears to be collecting ETH at this address: 0x469189223f286b51198163b4Eb5a1e532669523d https://t.co/XUJz3qg5X4

    Open source
  2. AR

    Arkham@arkhamPost on X ·

    Mercado Bitcoin Hacker Update: $10.5M of alts sold Two days after the $46M hack, hop wallets have sold the stolen tokens for $10.55M of ETH, and one $650K bridge to BTC through Bridgers appears to have been halted. Here’s the breakdown: https://t.co/5ey1qNrsfU

    Open source
  3. CB

    Crypto Banter@crypto_banterPost on X ·

    🚨MERCADO BITCOIN HACKER DUMPS ALTCOINS FOR ETH! The @MercadoBitcoin hacker has sold $PEPE, $AAVE, $UNI, $ONDO, $ENA and other altcoins, swapping them all for $ETH, per @lookonchain. The attacker now holds 7,988 $ETH, worth about $18.19M.

    Open source
  4. SI

    Solid Intel 📡@solidintel_xPost on X ·

    INTEL: Mercado Bitcoin hacker starts selling stolen funds after moving $11.45M of alts to new addresses Data: Arkham

    Open source