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

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/49057
Published: 2026-11-05T05:23:40.000Z
Updated: 2026-11-05T05:23:40.000Z
Section: Technology

> A separate $650,000 Bridgers transaction into Bitcoin appeared to have been intercepted, while an entity labeled as involved in the hack held about $31.23 million in assets.

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 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.