Mercado Bitcoin hacker moves $1.1 million in VIRTUAL and sells it in batches

Mercado Bitcoin hackers moved roughly $1.1 million worth of VIRTUAL tokens to a new address and began selling in batches of about $20,000 each, according to Arkham monitoring. The address originally received about 1.924 million VIRTUAL tokens and has since sent out tokens in multiple transfers while receiving ETH in return. The wallet still holds approximately $1 million in VIRTUAL, meaning the sell-off is only partially complete. The activity matters because it puts a large, identifiable overhang of VIRTUAL from the exchange breach in view of traders. Watch next for the pace of further batch sales and whether the remaining holdings are moved to exchanges or swapped for ETH.