# Arkham Intelligence Analyst Estimates Mercado Bitcoin Losses Above $46 Million

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/46872
Published: 2026-11-02T20:19:19.000Z
Updated: 2026-11-02T20:19:19.000Z
Section: Technology

> Mercado Bitcoin suspended deposits and withdrawals after containing a security incident. Tether CEO Paolo Ardoino said Tether froze more than 4.5 million USDT connected to it.

Arkham Intelligence analyst Emmett Gallic estimated suspected losses at Mercado Bitcoin topped $46 million Monday, raising the stakes of a security incident that led Brazil’s largest crypto exchange to suspend customer transfers.

Gallic said he had tracked more than $46 million by about 11 a.m. ET. Mercado Bitcoin has not confirmed a loss total. The exchange said it contained an incident in one system and reported no customer losses or exposed customer data.

The platform paused deposits and withdrawals as a precaution. That suspension prevents customers from moving crypto into or out of their accounts while the measure remains active.

Tether CEO Paolo Ardoino said Tether froze more than 4.5 million Tether (USDT) tokens connected to the incident. His statement did not specify how the frozen tokens relate to Gallic’s estimate.

Gallic’s estimate spans suspected activity across multiple chains, including Bitcoin and Ethereum. Mercado Bitcoin has not identified the affected system or described how the incident occurred, and the loss estimate remains unconfirmed by the exchange.