Crypto & Finance · VIDEO
Mercado Bitcoin hit by $46 million breach: Tether freezes 4.5 million USDT
Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, has confirmed a security incident involving approximately $46.3 million in assets. The attack led to a temporary suspension of deposits and withdrawals while the company collaborates with authorities to track the stolen funds. Tether has frozen over 4.5 million USDT linked to the attack. The incident is part of a series of security breaches in the crypto sector, including the recent $6 billion hack at Binance.
KEY TAKEAWAYS
- Mercado Bitcoin experienced a security breach with an impact of $46.3 million in assets.
- The exchange has suspended deposits and withdrawals as a precautionary measure and has published the addresses of the wallets involved to facilitate the tracking of funds.
- Tether has frozen over 4.5 million USDT linked to the attack.
- Arkham analyst Emmett Gallic noted that the attacker was transferring funds from old deposit addresses and selling memecoins and other altcoins.
- The incident is part of a series of security breaches in the crypto sector, including the $6 billion hack at Binance and the $2.65 million exploit at Polymarket.
Transcript
Mercado Bitcoin, Brazil's largest cryptocurrency exchange, has confirmed a security breach resulting in a $46.3 million theft. The attack targeted the platform's deposit system, prompting the temporary suspension of deposits and withdrawals. The exchange quickly contained the incident and is working with authorities to track the stolen assets. Tether has frozen 4.5 million USDT linked to the attack.
Arkham analyst Emmett Gallic revealed that the attacker moved funds from old deposit addresses and began selling memecoins and other altcoins, likely to convert the stolen funds into more liquid assets.
This incident is part of a recent wave of attacks in the cryptocurrency sector. On Thursday, Binance suffered a $6 billion attack, while Polymarket was hit by a $2.65 million exploit. On Friday, Chainalysis reported a data breach, and on Saturday, hackers stole approximately $138,000 from a dozen DeFi sites.
In light of these increasing threats, companies in the cryptocurrency sector must adopt advanced security measures, such as NIS2 compliance, DORA regulation, and MDR services, to protect their systems and customer data. Institutional crypto custody and MiCA compliance are also crucial for ensuring the security of users' funds.
