1Blockchain analytics firm Bitquery reports that an attacker drained thousands of Ethereum deposit addresses for nearly four hours after Mercado Bitcoin claimed to have contained the security breach.
2Bitquery traces approximately $48.6 million in stolen assets across 11 blockchains, which exceeds the exchange's updated estimate of $36.3 million.
3The unauthorized withdrawals were authorized directly by the deposit addresses, suggesting the attacker may have gained access to private keys or signing systems.
4Mercado Bitcoin plans to allow account balance viewing starting November 9, while deposits, withdrawals, and trading will remain suspended.
5The exchange has assured customers that it will cover user losses using its own funds.
Key takeaway
Discrepancies between official exchange statements and blockchain analytics highlight ongoing security risks and the transparency challenges facing centralized cryptocurrency platforms.
Short-term impact (days–weeks)
▼ BEARISH
Uncertainty surrounding the exchange's security and suspended withdrawals could create short-term negative sentiment.
Medium-term impact (1–3 months)
● NEUTRAL
The broader market may absorb the impact unless further systemic security vulnerabilities at other exchanges are discovered.
Key risks
Potential compromise of exchange private keys or master keys.
Uncertainty regarding the true total amount of stolen funds.
Prolonged suspension of user withdrawals and trading activities.
Risk of users reusing compromised deposit addresses.
This page summarizes and analyzes publicly reported news. Read the full story at the original source. AI-generated analysis — not financial advice.