Mercado Bitcoin halts withdrawals after incident; Hypernative flags $40M
Brazil's largest exchange paused deposits and withdrawals after a security incident, while Hypernative flagged over $40M in suspicious transfers.
Mercado Bitcoin, which several outlets describe as Brazil's largest crypto exchange, confirmed on November 2 that one of its systems was hit by a security incident. The exchange said it detected and quickly contained the problem overnight. Deposits and withdrawals were suspended as a precaution and, according to The Defiant, remained suspended in later updates.
In a statement on X, which BeInCrypto translated from Portuguese, the exchange said there was no loss to clients and no data leak. It added that its teams were investigating, tracing the assets and coordinating with the competent authorities. Unchained put the post at 12:56 UTC.
What Hypernative reported
Blockchain security firm Hypernative gave a preliminary estimate of more than $40 million in suspicious transfers. According to Wu Blockchain and The Cryptonomist, the transfers spanned at least 10 blockchains, including Bitcoin, Ethereum, Solana and Tron. Both outlets stress that the exchange has not confirmed this figure, and Wu Blockchain says the attack method is still unknown.
The outlets describe the number differently. BeInCrypto calls it a possible $40 million hack and says Hypernative estimates losses from the exchange's wallets. Unchained says Hypernative believes the money was drained from wallets it attributes to the exchange. Unchained also notes that Mercado Bitcoin has not given a loss figure, has not called the incident a hack and has not said whose funds moved. The Cryptonomist points out that the suspicious-transfer total is not a confirmed customer-loss amount.
Wallet addresses and the Tether freeze
About 90 minutes after its first statement, the exchange published destination addresses tied to the incident, according to Unchained. They covered EVM networks, Bitcoin, Solana, Stellar and Tron, and the exchange said they were shared only so they could be identified and tracked. Unchained reported that the named Bitcoin address had received about 106.07 BTC across seven transactions. The Defiant says the disclosure links the incident to wallets that received bitcoin, ether and other assets.
The Defiant also reported that Tether says it froze more than 4.5 million USDT tied to the incident. The outlet says Ethereum and Tron records confirm blacklist actions against wallets the exchange identified. That is a small amount next to the $40 million estimate, and the sources do not say whether more freezes are coming.
Why it matters and what to watch
For traders with funds on the platform, the immediate effect is that deposits and withdrawals are paused. The exchange's assurance that clients will not bear losses is its own statement, and the sources do not describe any independent check of it. BeInCrypto also notes that the incident comes days after what it calls a record $6 billion Binance hack, which is its claim and not something the other sources confirm.
The main things to watch are whether Mercado Bitcoin confirms or disputes Hypernative's figure and whether it explains how the attack happened. Traders should also look for a date to reopen deposits and withdrawals, further freezes by stablecoin issuers, and the regular updates the exchange promised.
Sources
- Mercado Bitcoin confirms cyberattack, Hypernative estimates over $40M suspected losses Wu Blockchain
- Over $40M in suspicious transfers flagged after Mercado Bitcoin cyberattack The Cryptonomist
- Mercado Bitcoin Keeps Withdrawals Suspended, Identifies Incident Wallets The Defiant
- Brazil’s Largest Crypto Exchange Mercado Bitcoin Hit by Possible $40M Hack BeInCrypto
- Tether Says It Froze Over 4.5 Million USDT Tied to Mercado Bitcoin Incident The Defiant
- Mercado Bitcoin Halts Withdrawals Over Security Incident as Hypernative Flags $40 Million Drain Unchained
Written with AI assistance from the sources above and checked against them. Not investment advice.