Nubank and Mercadopago Suspend Crypto Withdrawals in Latam

The institutions attributed this pause in their crypto services to instability from an external data provider. The two companies use Paxos as a custody provider, which sparked rumours of a possible hack on social media, but no official reports have been released. Two of the largest fintech institutions in Latam announced disruptions on their crypto services on Friday afternoon. Mercadopago, the fintech arm of Argentine e-tailer Mercadolibre, and Nubank, the largest neobank in Latam, both announced that they were halting deposits and withdrawals of digital assets due to “instability in external data providers.” Customers trying to move cryptocurrencies using the MercadoPago app encountered a message updating them on the situation, without offering a timeline for the resolution of the incident.

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