Brazil’s Largest Crypto Exchange Mercado Bitcoin Hit by Possible $40M Hack

Mercado Bitcoin, described as Brazil’s largest cryptocurrency exchange, confirmed a security incident in one of its systems and temporarily suspended deposits and withdrawals. Blockchain security firm Hypernative estimated about $40 million in losses from exchange wallets, flagging suspicious outflows beginning around 11 p.m. Sunday in Brazil across at least 10 blockchains. The incident came days after a record $6 billion Binance hack. Mercado Bitcoin said no client funds were lost and no data leaked, and that it is investigating, tracing assets and working with authorities. Hypernative said the transfers appeared authorized by the source wallets and it remained unclear how the attacker obtained signing capability, while Mercado Bitcoin gave no timeline for restoring deposits and withdrawals.