Bitquery claims Mercado Bitcoin lost $48.6 million in multi-chain hack, topping exchange estimate

New research reveals that Mercado Bitcoin , a major cryptocurrency exchange in Brazil, suffered continued drains from its customer deposit addresses for nearly four hours after initially reporting its security breach had been contained. The findings raise questions about the extent of the attack and how quickly its impact was truly managed. Bitquery, a blockchain data analytics firm, reported that an attacker was able to access and empty 36,042 Ethereum deposit addresses linked to Mercado Bitcoin between 9:27 a.m. and 1:56 p.m. Brazil time on November 2. This activity occurred after the exchange made a public statement at 9:56 a.m. declaring the incident under control. The affected deposit addresses held approximately $266,000 at the time, a relatively minor portion of the overall loss.

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