Hop wallets linked to the hack of Brazilian platform Mercado Bitcoin converted more than 136 tokens into Ether between November 3 and 4, in a transaction worth an estimated $10.55 million to $11.9 million. The operation concentrated a large share of the stolen funds in a highly liquid asset that cannot be frozen by a centralized issuer. A transfer of roughly $650,000 to Bitcoin through a bridge appears to have failed, however. The attack on November 2, 2026 targeted the platform’s hot wallets and deposit addresses spread across more than 10 blockchains. Mercado Bitcoin estimates the losses at around $38 million, while independent analyses put them at $49 million; Tether and Circle froze more than $11 million in stablecoins linked to the incident.
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