Mercado Bitcoin, Brazil's largest crypto exchange, halted deposits and withdrawals on November 2 after attackers drained wallets across at least 10 blockchains. Security firms estimate the loss at about $40 million to $46 million. The exchange says no customer lost money and no data leaked, but it hasn't said when withdrawals will reopen.
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What happened
- Withdrawals and deposits paused: Mercado Bitcoin suspended both on Monday, November 2, after what it called a security incident.
- Multi-chain drain: wallets on at least 10 blockchains were emptied, according to CoinDesk and Decrypt.
- The size: early estimates start around $40 million. Arkham tracked about $46 million across 36 addresses; another estimate puts it near $46.5 million across 61 addresses. Mercado Bitcoin hasn't confirmed a figure.
- Funds on the move: crypto.news reports the attacker has already moved about $8 million in ether.
What Mercado Bitcoin says
The exchange says customer balances are safe, no one has lost money and no personal data was exposed. It hasn't explained how the attacker got in, and it hasn't given a date for reopening withdrawals.
Is it linked to Binance?
There's no public evidence of a link. The hack comes days after the record $6.3 billion Binance hack and the Polymarket breach, which makes it the third major crypto security incident in a week, but nobody has tied the attacks together.
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What to do if you use Mercado Bitcoin
- Only trust updates from the exchange's official website and verified social accounts.
- Watch out for fake "refund" or "withdrawal recovery" messages. Scammers often target users right after a hack.
- For coins you plan to hold long term, a hardware wallet keeps them off any exchange. Never share your seed phrase with anyone.
My take
Three big incidents in one week is a rough run for crypto security. Mercado Bitcoin saying customers are covered is the right message, but until withdrawals reopen, users are stuck waiting. It's another reminder that coins on an exchange aren't fully in your control. Do you keep your crypto on exchanges, or move it off?
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Sources
- CoinDesk: Mercado Bitcoin hit by $40 million hack across 10 blockchains coindesk.com
- Decrypt: Brazil's largest exchange Mercado Bitcoin halts withdrawals after $40 million hack decrypt.co
- CoinCentral: Mercado Bitcoin halts withdrawals after $46M theft reports coincentral.com
- crypto.news: Mercado Bitcoin hacker moves $8M in ETH crypto.news
- Finbold: Mercado Bitcoin halts withdrawals after reported $40M hack finbold.com
Written by the WIZY creator
A lifelong gamer and Warhammer painter from Calgary, Canada, and the maker of the Crusade Journal and the WIZY RPG game. I write about games, hardware, Warhammer and crypto in plain English, and I check every fact against its source.
