Crypto platform Mercado Bitcoin said it detected a security incident affecting one of its systems, with assets worth about $38 million involved. While the company investigates, it has temporarily halted deposits, withdrawals, and access to its services.
The exchange said it activated security protocols to protect client assets and stated that users will not bear losses from the incident. Mercado Bitcoin also said there was no data leak.
Services paused during investigation
Mercado Bitcoin described the event as a security incident in one of its internal systems and said containment measures were put in place after it was identified. The company has not provided a full technical explanation of what happened, but said the platform will remain partially shut down until required security checks are completed.
According to the company, operations will resume only after all necessary security requirements have been met. It said any timeline for restoring access and transaction services will be announced through its official channels.
Company says $11 million has been frozen
Mercado Bitcoin said cooperation with the wider crypto industry and strategic partners has already led to the freezing of $11 million connected to the incident. The firms it named were Tether, Circle, Paxos, BRL1, and Chainalysis.
The company added that other amounts that may still be frozen have already been identified. Its teams are continuing to track the movement of the assets across blockchain networks as part of the containment effort.
Addresses published to help trace funds
As part of that response, Mercado Bitcoin disclosed wallet addresses linked to the relevant transactions. The company said those addresses were released solely for identification and tracking of the assets involved.
The move suggests the investigation is extending across multiple networks and counterparties, with the exchange relying on public blockchain tracing alongside cooperation from issuers and analytics providers.
Chainalysis details cross-chain movement
Blockchain analytics firm Chainalysis separately said it helped freeze nearly $10 million tied to the hack. According to the company, the attacker moved funds in waves across 17 blockchains after the breach.
Chainalysis said its team provided law enforcement with addresses to block within half an hour of receiving an alert. It added that coordination with partners including Tether, Circle, Paxos, Ripple, and Anchorage Digital helped quickly freeze stablecoins, including more than $9 million in USDT.
What comes next
For now, Mercado Bitcoin's next confirmed step is to complete its security review before reopening deposits, withdrawals, and platform access. The company maintains that no customer funds were lost and no user data was exposed, but has not yet published a detailed post-incident report.
The recovery effort remains focused on tracing assets and securing additional freezes where possible. Further updates on restored services are expected to come from Mercado Bitcoin's official announcements.
Source: incrypted.com