Lifestyle
Brazil's Largest Exchange Mercado Bitcoin Halts Withdrawals After Security Incident; Tether Freezes Over 4.5 Million USDT
Per Decrypt, Brazil's largest crypto exchange Mercado Bitcoin suspended deposits and withdrawals on Nov. 2 after a security incident. Users cannot deposit or withdraw for now, with no restart date. Hypernative flagged over $40 million in suspicious transfers; the exchange has not confirmed this.
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What happened
Per Decrypt, Mercado Bitcoin, Brazil's largest crypto exchange, suspended deposits and withdrawals early on Monday (Nov. 2, 2026) after detecting a security incident in one of its systems. The exchange said no customers lost funds and no data was leaked.
Decrypt quoted the exchange's statement, posted in Portuguese on X (English translation): "We identified and quickly contained a security incident in one of our systems early this morning," adding, "As a preventive protection measure, deposits and withdrawals are temporarily suspended."
Amounts, tracing and freezes: who said what
Per Decrypt, a preliminary analysis by blockchain security firm Hypernative flagged suspicious transfers of more than $40 million that may be linked to the incident, spanning at least 10 blockchains, including Bitcoin, Ethereum, Solana and Tron. Mercado Bitcoin has not confirmed that figure and has not disclosed how the attackers got in.
Decrypt reports that in a follow-up post the exchange published the addresses where it identified funds had gone across five networks: EVM chains (blockchains that run the same code as Ethereum), Bitcoin, Solana, Stellar and Tron. It said the aim was to let others identify and track the funds on-chain (that is, in the blockchain's public transaction record). Tether CEO Paolo Ardoino said on X that more than 4.5 million USDT tied to the incident had been frozen. USDT is a stablecoin issued by Tether, meaning a crypto token pegged to the US dollar.
| Item | What Decrypt reported |
|---|---|
| Exchange's statement | No customer losses, no data leaked; deposits and withdrawals suspended |
| Hypernative | Preliminary analysis flagged over $40 million in suspicious transfers across at least 10 chains; not confirmed by the exchange |
| Published addresses | Five networks: EVM chains, Bitcoin, Solana, Stellar, Tron |
| Tether | Ardoino says over 4.5 million USDT frozen |
| Method of intrusion and culprit | Exchange has not disclosed how the attackers got in or who is behind it |
| Resumption | No date given; updates to be posted on X |
What it means for ordinary users
For anyone holding assets on the platform, the most immediate effect is that deposits and withdrawals are unavailable, and the exchange has not said when they will resume. Decrypt explains that Tether can blacklist addresses holding USDT so the tokens in them cannot move. However, a freeze does not by itself return the funds to their owner, so a freeze is not the same as recovery.
Decrypt also notes the incident came days after the Oct. 29 theft of more than $6 billion from Binance, which the FBI attributed to North Korea's TraderTraitor group. Binance has reopened withdrawals and says it has replenished about 95% of the affected assets. However, per Decrypt, Mercado Bitcoin did not link the two incidents and did not say who was behind its own.
Frequently asked questions
Did Mercado Bitcoin customers lose money?
Per Decrypt, the exchange says no customers lost funds and no data was leaked. However, it has not confirmed the amount of suspicious transfers flagged by Hypernative, and details still await further official explanation.
When will deposits and withdrawals resume?
Per Decrypt, the exchange has not given a resumption date and says it will post regular updates on X.
Does Tether freezing USDT mean the funds have been recovered?
No. Decrypt explains that a freeze keeps tokens in blacklisted addresses from moving, but the freeze itself does not return the funds to their owner.
Is this incident linked to the Binance theft?
Per Decrypt, Mercado Bitcoin did not link the two incidents and did not say who is behind its own.
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