MercadoBitcoin Reports $40 Million Exploit and Halts Trading

MercadoBitcoin reported a $40 million exploit and halted trading, deposits and withdrawals as it investigates the incident and works to secure user funds.

The halt applies across trading, rather than to an individual asset or trading pair. It also stops deposits and withdrawals, so customers cannot trade on the platform or move funds into and out of exchange accounts while services are paused.

MercadoBitcoin is investigating the incident, tracking affected assets and working to secure user funds. It is coordinating with relevant authorities and seeks to restore user confidence as it reviews the breach.

Trading volume was unavailable during the investigation. The exchange's response also includes strengthening security as it works to address the exploit.

MercadoBitcoin is one of Brazil's leading cryptocurrency exchanges, serving millions of users and facilitating a broad range of crypto transactions. The halt puts a major exchange's security practices and operations in focus. The incident adds to wider concerns about security at cryptocurrency exchanges.