Brazil’s Mercado Bitcoin Halts Withdrawals After Estimated $46M Stolen

Brazil's largest cryptocurrency exchange, Mercado Bitcoin, halted deposits and withdrawals Monday following a security incident, with a prominent analyst estimating roughly $46 million in crypto stolen across multiple chains, including Bitcoin and Ethereum. The breach affects the leading venue for Brazilian crypto trading, raising counterparty risk concerns for users and counterparties exposed to the exchange. The full extent of losses remains unclear, as the analyst noted the damage figure was "counting" and could grow as the investigation proceeds. The exchange has not disclosed the root cause of the incident or a timeline for restoring services. Watch for updates on the stolen funds' on-chain movements, any recovery efforts, and whether Mercado Bitcoin commits to covering user losses from its own reserves.