Nubank and Mercadopago Suspend Crypto Withdrawals in Latam

Nubank and Mercadopago, two of Latin America’s largest fintechs, have suspended crypto deposits and withdrawals, citing instability from an external data provider. Both firms rely on Paxos as their custody provider, prompting social media speculation of a hack, though no official report has been released. The pause affects crypto services for a large regional user base and highlights operational dependencies in the crypto infrastructure stack. Paxos has not yet issued a formal statement on the cause of the disruption. Users and investors will watch for confirmation from Paxos and a timeline for restoring deposits and withdrawals at both platforms.