Mercado Bitcoin hit by hot-wallet hack across 10 blockchains, pledges to cover about $38 million in losses
Brazil's largest crypto exchange says no customer will lose funds after the Nov. 2, 2026 breach. Tether, Circle and Chainalysis helped freeze about $11 million, days after the record Binance hack.
TL;DR
- Mercado Bitcoin, Brazil's largest crypto exchange, confirmed a security incident on Nov. 2, 2026 and paused deposits and withdrawals as a precaution.
- Arkham data put the assets involved at about $46.3 million, The Block reported; the exchange later said around $38 million was lost, per CoinDesk.
- About $11 million has been frozen with help from Tether, Circle and Chainalysis; Tether froze more than 4.5 million USDT, according to The Block.
- The exchange says it will cover the losses, that customers will not lose funds and that no customer data leaked.
Another week, another exchange hot wallet. Mercado Bitcoin, Brazil's largest crypto exchange, confirmed a security incident on Nov. 2, 2026 and temporarily halted deposits and withdrawals while it investigated, The Block and Investing.com reported.
"We identified and swiftly contained a security incident in one of our systems early this morning," the exchange said in a post on X, according to Investing.com.
How much was taken
The first estimates came from on-chain trackers. The Block, citing Arkham data, put the assets involved at about $46.3 million. Mercado Bitcoin later said around $38 million was lost, CoinDesk reported, and that the attack drained hot wallets across at least 10 blockchains.
Arkham analyst Emmett Gallic said the attacker was moving funds from older deposit addresses and selling memecoins and other altcoins, per The Block.
Freezes and a full make-whole pledge
About $11 million of the stolen assets has been frozen with help from Tether, Circle and Chainalysis, CoinDesk reported. The Block said Tether alone froze more than 4.5 million USDT linked to the breach. Mercado Bitcoin also published the destination wallet addresses so security firms can track the funds.
The exchange said it will cover the loss and expects customers to suffer no losses. It also said no customer data leaked.
Part of a brutal stretch for exchanges
The breach landed days after the record $6.3 billion Binance hack, which the FBI attributed to North Korea's TraderTraitor group, and the $2.65 million Polymarket exploit on Oct. 29, 2026. Bitcoin slipped to about $76,932 on Nov. 3, 2026, its lowest level since early September, Investing.com reported.
What it means for Web3 teams – Analysis
Two things stand out. First, the damage was capped because stablecoin issuers and analytics firms acted within hours: freezable assets are now a real part of incident response, whatever one thinks of centralised control. Second, the attacker reportedly worked through older deposit addresses. Legacy wallets and forgotten keys are attack surface. Exchanges and treasuries should inventory every hot address they still control, sweep dormant ones and rehearse freeze requests with issuers before they need them. This is not investment advice.
FAQ
What happened at Mercado Bitcoin?
On Nov. 2, 2026 the Brazilian exchange confirmed a security incident that drained hot wallets across at least 10 blockchains. It paused deposits and withdrawals as a precaution.
How much was stolen?
Arkham data cited by The Block put the assets involved at about $46.3 million. Mercado Bitcoin said around $38 million was lost, according to CoinDesk.
Will customers lose money?
The exchange says it will cover the losses and expects no customer to lose funds. It also says no customer data leaked.
Has any of the money been recovered?
About $11 million has been frozen with help from Tether, Circle and Chainalysis, CoinDesk reported.
Sources
News summary based on the sources above. Not investment, legal or tax advice. Editorial policy & corrections · Report an error
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