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Brazil’s Mercado Bitcoin Freezes Deposits and Withdrawals Due to Ongoing Security Incident, Losses Estimated Near $40 Million

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Brazil’s Mercado Bitcoin Freezes Deposits and Withdrawals Due to Ongoing Security Incident, Losses Estimated Near $40 Million

Bitcoin Magazine

Brazil’s Mercado Bitcoin Freezes Deposits and Withdrawals Due to Ongoing Security Incident, Losses Estimated Near $40 Million

Brazil’s largest cryptocurrency exchange kept deposits and withdrawals suspended on Monday after a security incident in one of its systems. The shutdown left customers unable to send funds into or out of the platform while the company worked to restore operations.

Mercado Bitcoin said in a statement posted to X that it had identified and contained the incident. The company said customers suffered no losses and that no data had leaked. It described the suspension as a precaution. Its teams are investigating, tracing assets and coordinating with authorities, the company said. According to Bloomberg, the company said it would absorb all losses.

The company has not said which system was breached, how much was taken or when it will reopen. Its current statements gave no total loss figure and no timetable.

Mercado Bitcoin has since published destination addresses tied to transactions from the incident, covering Bitcoin, Ethereum-compatible networks, Solana, Stellar and Tron. It said it shared the addresses for identification and tracking purposes. Blockchain security firm Hypernative has put preliminary estimates of suspicious transfers above $40 million across several blockchains. The exchange has not confirmed that figure.

Other analysts are citing higher figures and that the sweeping is ongoing.

Stablecoin issuer Tether has entered the response. m. 5 million USDT linked to the incident. 5 million users.



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