Tether freezes $4.5 million as Mercado Bitcoin hacker holds $46 million in crypto

Tether has frozen more than $4.5 million in USDT linked to a security breach at Brazilian crypto exchange Mercado Bitcoin. Tether CEO Paolo Ardoino confirmed the freeze on Nov. 2, saying the stablecoin issuer blocked more than 4.5 million USDT linked to the incident. Notably, Tether is a major investor in the exchange. The stablecoin issuer announced a $20 million strategic investment in Mercado Bitcoin in July to support its expansion into tokenization, payments, and other digital financial services.

Also reported by CoinTurk News, The Defiant.

Source: CryptoSlate