Mercado Bitcoin Attacker Converts $10.55M of Stolen Altcoins to ETH
Arkham says the attacker behind the Mercado Bitcoin breach exchanged roughly $10.55 million of stolen altcoins for Ethereum.
Arkham says the attacker behind the Mercado Bitcoin breach exchanged roughly $10.55 million of stolen altcoins for Ethereum. Bitcoin (BTC) is trading at $80,563.00. This is an original TLT brief based on reporting by TronWeekly, with live market data added, as of Thu, 05 Nov 2026 03:00:04 UTC.
The conversion shows that stolen assets remain active and may move between chains as investigators try to trace them. A halted Bitcoin-bridging attempt also reduces the likelihood of an immediate transfer into the BTC market, though the funds have not been recovered.
- Arkham attributes the $10.55M altcoin-to-ETH conversion to the Mercado Bitcoin attacker.
- Stolen funds continue moving through newly created wallets.
- A separate attempt to bridge the proceeds into Bitcoin reportedly stopped.
- ETH rose 7.08% over 24 hours as the broader crypto market advanced.
Blockchain analytics firm Arkham reported that the attacker linked to the Mercado 
Bitcoin security breach sold approximately $10.55 million worth of stolen altcoins in exchange for 
Ethereum. TronWeekly cited Arkham’s November 4 update as the source for the transaction activity.
The funds were reportedly transferred through newly created wallets, indicating that the attacker continued moving the proceeds after the breach. In a separate development, an attempt to bridge the stolen funds into Bitcoin appears to have been halted, according to the same Arkham update.
The activity followed the exchange’s November 2 security incident, which was initially estimated at about $46 million. The conversion amount therefore represents less than the original incident estimate, while the reported halt on the Bitcoin bridge leaves the stolen assets in Ethereum rather than demonstrating recovery or final disposal.
Crypto markets were broadly higher in the supplied market snapshot. Total market capitalization stood at $2.76 trillion, Bitcoin traded at $80,641 after a 4.63% 24-hour gain, and Ethereum was $2,427.61 after rising 7.08% over 24 hours and gaining 3.31% over seven days. The Fear & Greed index registered 50, or Neutral. The key issue to monitor is whether the attacker continues transferring assets through new wallets or attempts another cross-chain move; the reported Bitcoin bridge failure does not mean the funds have been recovered.
Since this brief published about 9 hours ago, Bitcoin (BTC) has moved from $80,641.00 to $80,563.00 — -0.10%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₦111.45M (about $80,563.00), up 5.2% over 24 hours. The naira itself trades about 2.7% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 5, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Mercado Bitcoin Attacker Converts $10.55M of Stolen Altcoins — questions & answers
How much did the attacker convert into Ethereum?
Arkham estimated that approximately $10.55 million worth of stolen altcoins was sold for Ethereum.
What happened to the attempted Bitcoin bridge?
The attempt to move the stolen funds into Bitcoin appears to have been halted, according to Arkham’s November 4 update.
How large was the original Mercado Bitcoin incident?
The November 2 breach was initially estimated at around $46 million.
How much is 1 Bitcoin worth in naira today?
About ₦111.45M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $80,563.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.10% since this brief first published — trading at $80,563.00 now versus $80,641.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from TronWeekly. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.