Mercado Bitcoin Suspends Withdrawals as Breach Estimates Exceed $49 Million
The Brazilian exchange says customers lost no money, while analysts report transfers continued after deposits and withdrawals were suspended.
Key takeaways
- Mercado Bitcoin suspended deposits and withdrawals after reporting a security incident.
- Blockchain analysts estimated losses above $49 million, but the exchange has not confirmed that figure.
- About $6.2 million had been frozen by Tether and Circle by 4:42 pm UTC, according to Cointelegraph.
Mercado Bitcoin suspended deposits and withdrawals on Monday after identifying a security incident in one of its systems. The Brazilian exchange said customers had suffered no losses and no data had leaked.
Blockchain security firm Hypernative flagged more than $40 million in suspicious transfers across at least 10 blockchains, according to a preliminary analysis. Cointelegraph reported that blockchain analysts estimated more than $49 million had been drained from the exchange’s wallets; Mercado Bitcoin has not confirmed the amount.
Certik security engineer Dickson Wu said attackers first targeted eight smaller chains before moving to the exchange’s main hot wallets. He also reported that funds continued to move from addresses linked to the incident for hours after the suspension was announced.
By 4:42 pm UTC, about $6.2 million had been frozen by stablecoin issuers Tether and Circle, Cointelegraph reported. About $20 million had moved to newly created wallets, while more than $20 million remained in associated addresses, including all 106 BTC.
The incident remains under investigation and has not been attributed to a group. Mercado Bitcoin has not given a date for resuming deposits and withdrawals.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
