A wallet tied to the Mercado Bitcoin breach moved 2,800 ETH onward, continuing the trail of funds from one of the year's largest crypto hacks. The move came as Binance worked to restore assets and withdrawals after its own record breach, and as law enforcement and protocols scrambled to block further transfers.
Bitcoin and Ethereum spot ETFs both posted net outflows in October, with Ethereum losing more than double Bitcoin's amount. The 2,800 ETH move is a follow-on transfer, not the hack itself.
In plain terms, the attacker's wallet sent the ether to another address, likely to move it further from the original theft or toward a mixer or bridge. The Defiant first reported the transfer. Each hop makes tracing harder, but it also leaves a permanent record on the blockchain that analysts can follow.
2,800 ETH moved from the Mercado Bitcoin breach wallet
The transfer of 2,800 ETH is significant because ether is the second-largest cryptocurrency by market value, and large moves from a known breach wallet signal the attacker is still active. The Defiant reported the onward movement. Tracing such flows is possible because every transaction is public, but it gets harder as funds split across many addresses and cross-chain bridges.
Binance completes proof of reserves after record hack
Binance completed its latest proof of reserves snapshot as it works to restore assets and withdrawals after a record hack, The Block reported. A proof of reserves is an audit-style snapshot that shows an exchange holds the assets it owes customers, usually verified by a third party or published on-chain.
Completing it is a step toward reopening withdrawals that were paused after the breach. The exchange has not said when full service resumes, but the snapshot signals progress.
Crypto hack losses triple 2025 totals
Crypto hack losses hit $8.74 in 2026, more than triple 2025 totals, CoinSpeaker reported. The figure counts funds stolen across incidents this year, and it would be lower without Binance's record breach. The year otherwise ran quieter, which is a strange mix: one outsized event drove the headline number while smaller incidents stayed rare.
That skew matters for how investors read the data, because a single breach can distort the whole year's picture. Crypto treasury stocks face their own valuation questions this year, with mNAV, meaning market value relative to net asset value, and dilution, meaning new share issuance that reduces existing holders' stakes, both affecting value.
The Defiant covered how the two metrics shape what investors pay for crypto-exposed equities. The topic sits apart from the hack story but shapes pricing during a volatile month.
How Bitcoin and Ethereum reacted after major hacks
Bitcoin spot ETFs saw $203M in net outflows in October, while Ethereum ETFs lost $432M, per CryptoBriefing. The outflows suggest investors pulled back from both assets during a month heavy with hack headlines. Ethereum's larger outflow could reflect its direct exposure to the breaches, since much of the stolen value moved in ETH.
Bitcoin's smaller outflow suggests holders treated it as the relatively safer side of the market during the stress.
FBI urges THORChain operators to block Binance hack transfers
The FBI urged THORChain operators to block transfers tied to the Binance hack, TokenPost reported. THORChain is a decentralized cross-chain swap protocol, meaning it lets users trade assets across different blockchains without a central exchange. Blocking transfers there would cut off one path hackers use to launder stolen funds into other coins.
The request is voluntary for node operators, since no central party controls the protocol.
THORChain halts swaps after block reorg bug
THORChain halted swaps after a block reorg bug, which slowed the Binance hackers, CoinTelegraph reported. A block reorganization is when a blockchain briefly reorders or replaces recent blocks, and a bug in that process forced the protocol to pause swaps.
The pause had the side effect of slowing the hackers' ability to move funds through THORChain. It is a reminder that the same technical flaws that hurt users can sometimes also hinder attackers.
The next signals are ETF flows and the 2,800 ETH trail
The open questions are whether the 2,800 ETH gets traced to a cash-out point, and whether Binance finishes restoring withdrawals before the next proof of reserves deadline. ETF flows in November will show if October's outflows were a one-month reaction or the start of a longer pullback.
The $8.74 hack-loss figure for 2026 will keep climbing if more incidents surface, but without another large breach the year's total may settle near that level.