Mercado Bitcoin Hacker Moves $8M in Ethereum as Tether Freezes Over $9M

TLDR The Mercado Bitcoin hacker moved about $8 million in Ethereum to new wallets on November 3. Arkham asked whether the ETH could reach Tornado Cash, but no deposit has been confirmed. The attacker still holds over $1 million each in several altcoins, including PEPE, AAVE and ONDO. Tether froze more than $9 million linked to the attack after Chainalysis coordinated with issuers. The breach came four days after a separate $6.3 billion hack at Binance. The hacker behind the $46 million Mercado Bitcoin breach has moved about $8 million worth of Ethereum to new wallets. Blockchain analytics platform Arkham reported the transfers on November 3. The transactions came one day after the attack on Brazil’s largest cryptocurrency exchange. The breach affected wallets across at least ten blockchains and led the exchange to pause deposits and withdrawals. According to Arkham’s records, the attacker has been spreading stolen Ethereum across several addresses tied to the breach. The largest transfer involved about 2,900 ETH, valued at $6.52 million. The Mercado Bitcoin hacker just moved $8M of ETH to new wallets. Will he deposit this ETH into Tornado Cash? The hacker holds $46M of crypto. Set alerts for his new transfers on Arkham: pic.twitter.com/d84NzITs5C — Arkham (@arkham) November 3, 2026 Smaller transactions of 470 ETH and 200 ETH were also recorded. Together, these moves make up the roughly $8 million in ETH transfers flagged by the firm. Arkham raised the question of whether the ETH could end up in Tornado Cash. Tornado Cash is a crypto mixing protocol that makes it harder to trace links between sending and receiving wallets. So far, the transfers in Arkham’s update only involved wallets linked to the attacker. No deposits into Tornado Cash have been confirmed. Hacker Still Holds Millions in Altcoins Blockchain tracker Lookonchain reported that the attacker still holds several altcoins worth more than $1 million each. These include about 372.99 billion PEPE tokens valued at $1.79 million. Another exchange, @MercadoBitcoin, has been hacked for over $46M! Over $9M in stolen assets has already been frozen. The hacker still holds the following altcoins, which could face selling pressure: 372.99B $PEPE ($1.79M) 12.82K $AAVE ($1.61M) 769.95K $PENDLE ($1.35M) 29.83K… pic.twitter.com/qRksDssA8Z — Lookonchain (@lookonchain) November 3, 2026 Other holdings include 12,820 AAVE worth $1.61 million and 769,950 PENDLE worth $1.35 million. The wallet also holds 29,830 EVA valued at $1.26 million. The attacker also holds about 1.98 million VIRTUAL tokens worth $1.15 million and 147,840 UNI worth $1.04 million. Another 2.67 million ONDO tokens are valued at $1.03 million. Lookonchain warned that these altcoins could face selling pressure if the attacker sells them. Arkham has already tracked 287 token swaps from the attacker’s wallets, including sales of RENDER, WIF, KMNO and POPCAT.