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Brazil’s Mercado Bitcoin Puts Security Incident at $38 Million, Says Clients Won’t Lose Assets
The Brazilian exchange said it has already blocked $11 million with partners including Tether and Circle, and that deposits and withdrawals stay suspended until security is fully restored.
Dextape brief
Roughly $38 million in assets was touched by a security problem at Brazil's Mercado Bitcoin, prompting the exchange to pause deposits and withdrawals on Monday. It is the first dollar amount the platform has offered. In a Portuguese-language update posted Monday evening Eastern time, the company said it had blocked $11 million with help from Tether, Circle, Paxos, BRL1 and Chainalysis, and that containment remains in progress. Customers, it stated, will not lose holdings, and services return only after safety is verified. Security firm Hypernative, a security firm, had estimated more than $40 million left linked wallets, above the exchange's figure. The cause has not been disclosed, and the platform later listed destination addresses across several blockchains to aid tracking.
Why it matters: It shows how one security breach can freeze withdrawals at a major regional exchange while the affected funds remain under review.
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