Mercado Bitcoin, described as Brazil’s largest crypto exchange, has paused deposits and withdrawals after a security incident connected to a $40 million hack. $BTC

The halt blocks both incoming and outgoing transfers, leaving users unable to move funds while the exchange deals with the fallout.

Tether froze more than 4.5 million USDT tied to the attack, adding a rare recovery step as investigators and exchange teams assess the damage.

The case puts a sharp focus on exchange security and withdrawal risk, especially when a platform stops transfers during an active incident.

Key details remain unconfirmed: how long the pause will last, the full scope of affected accounts, and whether all user balances are fully backed.

For now, the confirmed facts are the withdrawal and deposit freeze, the $40 million hack figure, and Tether’s freeze of over 4.5 million USDT.

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