Mercado Bitcoin hack losses are at $46M and growing

Brazilian crypto exchange Mercado Bitcoin has paused withdrawals after a security breach with estimated losses of $46M and growing. The hack, first reported by crypto news outlet Protos, targeted the exchange's hot wallets, though the exchange has not yet confirmed which specific assets were stolen. The incident adds to a string of 2025 exploits affecting centralized exchanges and bridges, and marks one of the largest security failures for a Latin American crypto platform to date. Mercado Bitcoin, one of Brazil's largest exchanges, has not disclosed a timeline for restoring withdrawals or whether customer funds will be reimbursed. Watch for updates on the final loss tally, any on-chain movements of stolen funds, and whether the exchange taps insurance or external financing to cover the shortfall.