Companies
Mercado Bitcoin Takes Platform Offline After $49 Million Security Incident
Mercado Bitcoin, Brazil’s largest cryptocurrency exchange, has taken its platform offline after a security incident that reportedly involved about $49 million in crypto assets. The exchange announced that no clients lost money and no data was leaked during the breach.
According to reports from Valor Econômico, Mercado Bitcoin has successfully blocked $11.2 million of the affected assets with assistance from partners including Tether, Circle, BRL1, Paxos, and Chainalysis. In a statement posted on X, the exchange said, “We identified and swiftly contained a security incident in one of our systems early this morning.”
The exchange initially paused all deposits and withdrawals while its teams investigate the incident, track the assets, and collaborate with authorities. They later disclosed the wallet addresses linked to the security breach across various networks, including EVM networks, Bitcoin, Solana, Stellar, and Tron, to facilitate tracking.
Blockchain data firm Arkham reported that the attacker drained approximately $46.3 million worth of crypto assets from Mercado Bitcoin. Security firm Hypernative had previously flagged around $40 million in outflows from wallets associated with the exchange.
Tether CEO Paolo Ardoino confirmed that the stablecoin issuer has frozen more than 4.5 million USDT connected to the incident. Mercado Bitcoin stated that it will keep the platform offline until it can safely resume operations and will provide updates on its official channels.
Furthermore, the exchange has warned customers to be vigilant against scams, emphasizing that it never requests passwords, verification codes, or recovery phrases.
FAQ
What happened to Mercado Bitcoin?
Mercado Bitcoin took its platform offline following a security incident that involved approximately $49 million in crypto assets.
Did any clients lose money during the security incident?
No clients lost money, and no data was leaked during the breach, according to Mercado Bitcoin.
What actions has Mercado Bitcoin taken in response to the incident?
The exchange paused all deposits and withdrawals, blocked $11.2 million of the affected assets, and is collaborating with partners and authorities to investigate the incident.
How much of the stolen assets have been recovered?
Mercado Bitcoin has successfully blocked $11.2 million of the affected assets, while approximately $46.3 million was drained from the exchange.
What precautions should customers take following the incident?
Customers are advised to be vigilant against scams and should not share passwords, verification codes, or recovery phrases, as Mercado Bitcoin will never request this information.