The leading Brazilian cryptocurrency exchange, Mercado Bitcoin, has suspended withdrawals after approximately $40 million in digital assets were drained across 10 blockchain networks, according to latest reports.

The exchange halted withdrawals as it investigates the incident which involved assets moving across multiple blockchains, highlighting the challenges of containing security breaches in an interconnected crypto ecosystem.

The attacker reportedly holds roughly

• 2,852 ETH,

• 106 BTC,

• 10,700 SOL,

• 6.7 million XLM and

• 77,000 AVAX,

plus more than 200 other tokens, reports claims.

Tether CEO, Paolo Ardoino, confirmed the freeze of over 4.5 million in USDT from the hack.

The incident comes amid heightened scrutiny of cryptocurrency security following a separate $6.3 billion breach at Binance which the FBI has attributed to North Korean-linked hackers.

Cross-chain transactions can complicate efforts to trace and recover stolen assets particularly when attackers move funds between networks and decentralized exchanges.

Mercado Bitcoin has not yet provided a full account of the incident or indicated when withdrawals will resume.

The suspension underscores the operational risks facing centralized crypto exchanges, where security incidents can disrupt customer access to funds even as transactions remain publicly traceable on blockchain networks.

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