Summary
- Brazil's largest crypto exchange lost approximately $49 million across 17 blockchains in a November 2 security incident.
- Chainalysis tracing efforts and partner freezes have blocked over $11 million in stolen stablecoins so far.
- Mercado Bitcoin will cover all losses with company funds and plans a view-only reopening on November 9.
Brazil's largest crypto exchange took a direct hit. Mercado Bitcoin lost roughly $49 million on November 2. Attackers drained wallets across 17 blockchains and forced an immediate halt to deposits and withdrawals.
On-chain analysts jumped in fast to trace the stolen assets. The exchange promised to cover every loss from its own reserves.
Context
This breach shows crypto exchanges still struggle with security. It hit just days after the Binance incident. The timing raises fresh questions about shared wallet risks and hot storage habits.
Brazil's crypto scene has expanded fast. That growth turns big platforms into obvious targets. Attackers now use cross-chain moves to spread and clean the proceeds.
Details
Chainalysis tracked about $49 million across 17 chains after the November 2 breach. The firm helped spot wallets and pushed DeFi protocols to freeze the addresses.
Tether and other partners locked more than $11 million in stolen stablecoins. The attacker swapped what was left for ETH and moved the funds into new wallets.
Mercado Bitcoin has kept quiet on the exact cause and whether customer funds were touched directly. The exchange will reopen in stages starting November 9. View-only access comes first while trading and withdrawals stay paused.
"Funds tracked across 17 chains."
, Chainalysis
Recovery stays internal. The company will replace every lost asset without touching user balances.
Outlook
Mercado Bitcoin will finish its security checks before it restores full trading and withdrawals. Investigators will keep watching the remaining stolen funds across the chains.