Security researchers identified $9.17 million in frozen assets as the Brazilian exchange became the latest target in a wave of attacks following Binance's record $6.3 billion hack.

Tether has frozen more than $4.5 million in USDT linked to a security breach at Brazilian crypto exchange Mercado Bitcoin.

Tether CEO Paolo Ardoino confirmed the freeze on Nov. 2, saying the stablecoin issuer blocked more than 4.5 million USDT linked to the incident.

Notably, Tether is a major investor in the exchange. The stablecoin issuer announced a $20 million strategic investment in Mercado Bitcoin in July to support its expansion into tokenization, payments, and other digital financial services.

Meanwhile, on-chain analyst Specter reported that coordinated efforts involving security researchers and stablecoin issuers had expanded the immobilized assets to more than $9 million across nine digital assets, including USDC, PAXG, RLUSD, and others.

The intervention came as blockchain analytics firm Arkham Intelligence identified approximately $46 million in cryptocurrency held by wallets attributed to the attacker, including $8.37 million in Ethereum, $8.24 million in Bitcoin and $1.76 million in PEPE.

Earlier today, Mercado Bitcoin disclosed that it had identified and contained a security incident affecting one of its systems overnight.

The exchange temporarily suspended deposits and withdrawals while investigating suspicious asset movements but maintained that customers suffered no financial losses and that no personal information was compromised.

However, it has not disclosed the financial extent of the attack or explained whether its corporate reserves were affected.

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