Crypto•4 November 2026•
1 min read
Mercado Bitcoin Hackers Swap $11M in Stolen Altcoins for ETH
Key Facts
1Hackers linked to the Mercado Bitcoin breach swapped $11 million worth of stolen altcoins into ETH.
2On-chain activity included swapping PENDLE for ETH via CowSwap and other DeFi platforms.
Hackers linked to the Mercado Bitcoin breach swapped $11 million worth of stolen altcoins into ETH. Crypto Briefing reported that the attackers converted more than 136 different tokens to move the stolen haul into one of the market's most liquid assets.
On-chain activity included swapping PENDLE for ETH via CowSwap and other DeFi platforms, according to Coincu. These movements follow the November 2, 2026, attack on the Brazilian exchange Mercado Bitcoin, as the hackers attempt to consolidate assets into ETH to facilitate laundering and avoid the freezing of funds.