Bitcoin Magazine Brazil’s Mercado Bitcoin Freezes Deposits and Withdrawals Due to Ongoing Security Incident, Losses Estimated Near $40 Million
Brazil’s largest cryptocurrency exchange kept deposits and withdrawals suspended on Monday after a security incident in one of its systems. The shutdown left customers unable to send funds into or out of the platform while the company worked to restore operations.
Mercado Bitcoin said in a statement posted to X that it had identified and contained the incident. The company said customers suffered no losses and that no data had leaked. It described the suspension as a precaution. Its teams are investigating, tracing assets and coordinating with authorities, the company said. According to Bloomberg, the company said it would absorb all losses.
The company has not said which system was breached, how much was taken or when it will reopen. Its current statements gave no total loss figure and no timetable.
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