NewsSignals AI analysis·Crypto Briefing·Nov 4, 2026

Mercado Bitcoin hackers swap $11M in stolen altcoins for ETH

Grade Sbearish AI signal$ETH$BTC

Hackers behind the Mercado Bitcoin breach converted approximately $10.55 million to $11.9 million in stolen altcoins into ETH, consolidating funds into a more liquid asset that cannot be frozen by a centralized issuer. The November 2 attack caused estimated losses of $38 million to $49 million, while Tether and Circle froze more than $11 million in related stablecoins and a $650,000 Bitcoin bridge transfer appears stalled. The conversion could increase selling pressure on ETH as attackers attempt to move stolen funds, while ongoing freezes and recovery efforts may limit their ability to cash out.

Bullish strength: 25/100

More than $11 million in stolen stablecoins was frozen by Tether and Circle.
The attempted $650,000 transfer into Bitcoin appears to have stalled.
Mercado Bitcoin committed to refunding affected users.

Bearish strength: 75/100

Hackers converted approximately $10.55 million to $11.9 million in stolen tokens into ETH.
More than 136 different tokens were swapped into Ether.
ETH cannot be frozen by a centralized issuer, making recovery more difficult.
The exchange breach resulted in estimated losses of $38 million to $49 million.
The converted ETH could be moved through additional wallets or sold.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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