$46 million stolen, $9 million frozen, $8 million just moved, and the hacker is still sitting on $9.2 million, ready to dump it. This is only the beginning.
According to on-chain monitoring by Lookonchain and Arkham, the Mercado Bitcoin exchange hack in Brazil has blown up. More than $46 million in assets were stolen, and over $9 million has been frozen so far. But the hacker hasn’t stopped: they just transferred ETH worth $8 million to a new wallet, reportedly with plans to send it to Tornado Cash, according to PANews.
Even more worrying is the pile of altcoins they’re holding: 372.99 billion $PEPE , 12,820 $AAVE , 769,950 PENDLE, plus EVA, VIRTUAL, UNI, and other odds and ends worth around $9.2 million in total. If these are dumped all at once, $PEPE $AAVE PENDLE could face an immediate squeeze in the short term.
But looking at the broader market, BTC is still up more than 3% over the past 24 hours, and $ETH is up more than 5%, moving at a similar pace. There’s been no major flight of capital from exchange-related tokens. If the frozen funds can really be recovered and the hacker’s remaining stash stays under control, the market may just get a brief buzz out of this. But if that $9.2 million is dumped in a short period, the altcoin sector will definitely stay cold for a while.
This story hasn’t fully played out yet. Stay tuned.
#MercadoBitcoin #CryptoSecurity
According to on-chain monitoring by Lookonchain and Arkham, the Mercado Bitcoin exchange hack in Brazil has blown up. More than $46 million in assets were stolen, and over $9 million has been frozen so far. But the hacker hasn’t stopped: they just transferred ETH worth $8 million to a new wallet, reportedly with plans to send it to Tornado Cash, according to PANews.
Even more worrying is the pile of altcoins they’re holding: 372.99 billion $PEPE , 12,820 $AAVE , 769,950 PENDLE, plus EVA, VIRTUAL, UNI, and other odds and ends worth around $9.2 million in total. If these are dumped all at once, $PEPE $AAVE PENDLE could face an immediate squeeze in the short term.
But looking at the broader market, BTC is still up more than 3% over the past 24 hours, and $ETH is up more than 5%, moving at a similar pace. There’s been no major flight of capital from exchange-related tokens. If the frozen funds can really be recovered and the hacker’s remaining stash stays under control, the market may just get a brief buzz out of this. But if that $9.2 million is dumped in a short period, the altcoin sector will definitely stay cold for a while.
This story hasn’t fully played out yet. Stay tuned.
#MercadoBitcoin #CryptoSecurity