Mercado Bitcoin Says Partners Froze $11 Million Tied to Incident

Brazilian crypto exchange Mercado Bitcoin said partners have frozen $11 million tied to a security incident involving about $38 million in assets, with additional freezeable funds identified as recovery work continues.

The exchange put the value of assets involved at about $38 million. The $11 million already frozen represents roughly 29% of that estimate. Mercado Bitcoin said it has identified other funds eligible for freezing, and that related handling is still underway.

The exchange named Tether, Circle, Paxos, BRL1 and Chainalysis as partners in the freeze effort. It said work involving other funds that can be frozen continues, while the $11 million figure refers to assets already frozen.

Mercado Bitcoin also reiterated that users would not suffer asset losses from the incident. It said timing for service restoration would be announced only through its official channels. The update described recovery work as ongoing. The update thus described a partial freeze, with more work ahead on identified funds.