Brazil’s Mercado Bitcoin halts withdrawals after $40 million drained across 10 chains
Mercado Bitcoin, Brazil's largest cryptocurrency exchange, has halted all customer withdrawals after approximately $40 million was drained from its platform across 10 separate blockchain networks. The exchange confirmed the suspension in an official statement, citing an ongoing security incident as the reason for the temporary freeze. The full scope of the breach and the method used by attackers have not yet been publicly disclosed.
Mercado Bitcoin, operated by 2TM Group, has long been considered one of Latin America's most established crypto trading platforms, serving millions of retail and institutional users across Brazil. The exchange has previously weathered market downturns and regulatory scrutiny, but a security incident of this magnitude represents a significant operational challenge for the company.
The attack's multi-chain nature — spanning 10 different blockchain networks simultaneously — signals a level of sophistication that analysts say raises broader concerns for the industry. Coordinated cross-chain exploits have become an increasingly common threat vector, and an incident of this scale at a major regional exchange is likely to draw renewed attention from Brazilian financial regulators, including the Central Bank of Brazil, which oversees crypto asset service providers.
Users and industry observers will be watching for Mercado Bitcoin's detailed post-incident disclosure, any regulatory response from Brazilian authorities, and whether the exchange can secure sufficient reserves to cover affected customer balances before resuming normal operations.
Source: CoinDesk
