Brazil’s Largest Crypto Exchange Hit by Cyberattack as Losses Top $45M

Mercado, described as Brazil’s largest digital asset exchange, confirmed a cyberattack that drained more than $45 million, adding to a string of crypto attacks within 30 days. Initial research put losses at $40 million before Arkham Intelligence analyst Emmett Gallic reported an additional $5 million. Mercado said customers were not harmed and no data was breached, but it temporarily suspended deposits and withdrawals during its investigation and published the destination addresses of stolen funds. Mercado estimated the incident’s asset value at $38 million and said $11 million was blocked with help from Circle, Tether, Paxos, Chainalysis and BRL1. Last week, Binance faced a crypto breach involving $6 billion in assets, although a large chunk was traced.