Mercado Bitcoin Halts Operations After $38M Crypto Hack

Early today, hackers breached Mercado Bitcoin, Brazil’s largest cryptocurrency exchange, stealing roughly $38 million in digital assets. When the company spotted the massive theft, it locked down the platform, freezing all customer deposits and withdrawals. The exchange quickly partnered with blockchain trackers like Chainalysis and digital token creators Tether and Circle. By tracking the stolen money across the public network, they successfully blocked the hackers from moving $11 million. Mercado Bitcoin publicly promised that its own corporate cash will cover the rest of the damage, but the platform currently remains closed to users.