Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, said Monday that it had halted deposits and withdrawals following a “security incident.” A prominent analyst pegged the damages at $46 million worth of crypto and counting across numerous chains, including Bitcoin and Ethereum.
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The hacker moving the stolen funds could create localized selling pressure while also making their recovery and attribution harder.
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The unidentified attacker moved funds through ether, instant exchanges and Monero, but the victim and affected exchanges remain unknown.
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Onchain records show Circle freezing USDC on Polygon and Paxos freezing gold tokens on Ethereum, while exchange withdrawals remain suspended.
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ZachXBT said that multiple laundering indicators give him high confidence that the North Korean threat actor Lazarus Group is not responsible.