Mercado Bitcoin Pauses Withdrawals After Estimated $46 Million Hack
Mercado Bitcoin pauses deposits and withdrawals after $46 million hack
Brazilian crypto exchange Mercado Bitcoin has paused withdrawals and deposits after losing an estimated $46 million worth of crypto to hackers. An exchange is a platform where people buy, sell, and store crypto.
The exchange said it contained the security incident on the morning of the report. It said customers were not harmed and there was no data breach.
Key points from the report
- Mercado Bitcoin paused deposits and withdrawals.
- The loss is estimated at about $46 million.
- The exchange said the incident was contained and the pause was precautionary.
- An analyst claims the loss is over $46 million and still growing.
- The exchange shared wallet addresses where stolen funds were sent to help tracking. A wallet is a digital account used to hold crypto.
What the exchange said
Mercado Bitcoin described the suspension as a precautionary measure. It said it is investigating what happened with competent authorities.
The exchange said there was no harm to customers. It also said there was no data breach.
What an analyst claims
Akrham analyst Emmett Gallic claims the hack losses are worth over $46 million and growing. This is a claim from an analyst, not a figure confirmed by the exchange in the supplied material.
He claims that old deposit addresses are being swept by the hacker, and that memecoins and altcoins are being sold off. Memecoins are crypto tokens often based on internet memes, and altcoins are cryptocurrencies other than Bitcoin.
What is confirmed and what is still a claim
Confirmed by the exchange in the report: deposits and withdrawals are paused, the incident was contained, the pause was precautionary, and an investigation is under way with authorities.
Not confirmed by the exchange: the exact loss amount and the claim that losses are growing. Those details come from the analyst.
Binance hack mentioned for context
The report also mentions a separate hack involving Binance, described as the world's largest crypto exchange. The report says Binance was hacked for over $6 billion last week, which would be larger than the earlier Bybit theft of almost $1.5 billion.
The report says Binance has since reopened withdrawals and deposits, and has seen over $6 billion in net outflows. Net outflows mean more money left the exchange than entered it.
The report says the US Secret Service is now involved in investigating the Binance hack. The report says the hack is believed to have been carried out by the North Korea-linked group Trader Traitor. That link is presented as a belief, not as a confirmed fact.
The report also says node operators, such as those run by THORChain, have been told by the FBI to block transactions linked to the case.
Where this report comes from
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.