WiretechnologyDextape brief
Mercado Bitcoin Assures Users Won’t Lose Funds Following $38M Security Breach
The exchange says services will resume only when full security conditions are met.
Dextape brief
Mercado Bitcoin, a Brazilian crypto exchange, has assured customers they will not lose funds after a security incident on Monday led it to pause deposits and withdrawals. The company now puts the affected assets near $38 million and has already blocked $11 million with Tether, Circle, Paxos, BRL1 and Chainalysis, with more amounts identified. The incident was detected in one system in the early hours of Monday, prompting a precautionary suspension that will last until full safeguards are restored. Blockchain security firm Hypernative had reported over $40 million leaving exchange-linked wallets overnight, spanning at least 10 networks. Separately, investigator ZachXBT flagged a suspected theft of more than $133 million in withdrawals from exchanges, tied to an unnamed European Union entity.
Why it matters: The case shows that a single breached system can drain large balances across many chains, and that authorized-looking transfers are hard to explain.
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