A post by @WatcherGuru on X.

Brazil's largest crypto exchange, Mercado Bitcoin, has suspended deposits and withdrawals following a reported hack exceeding $40 million, according to a tweet from Watcher.Guru. The exchange, which serves as a major on-ramp for Brazil's large crypto user base, halted all customer fund movements as it investigates the breach. The suspension affects users across all tokens supported by the platform, including bitcoin and ether, and could pressure liquidity in Brazil's crypto market if the outage persists. The incident adds to a growing list of exchange security failures in Latin America and may prompt regulatory scrutiny from Brazilian authorities. Traders should watch for confirmation of the loss amount, details on which wallets were compromised, and whether the exchange commits to covering user losses from its own reserves.