The suspensions by the financial services firms came a week after hackers stole a record $6.3 billion from Binance Oct. 30.
“All assets and information remain protected,” Nubank said Friday as it announced it had suspended crypto deposits and withdrawals in Brazil, according to the report.
The company’s statement did not identify the business partner and said the issue is not related to Nubank’s “infrastructure and does not compromise customer security,” per the report.
Nubank said its crypto products are functioning normally and did not say how many of its 120 million customers in Brazil were impacted by the suspension, the report said.
Meanwhile, Mercado Pago, an arm of Latin American eCommerce giant Mercado Libre, said it identified instability in crypto asset transfers related to an incident at a risk monitoring and anti-money-laundering services provider, according to the report. The company blocked some transfers to external wallets as a precautionary measure.
“Incoming deposits may also face delays before they are completed,” Mercado Pago said, per the report. “However, once service is restored, they will be credited automatically.”
It is unclear if these incidents are related or involve the same external provider, the report said.
The incidents came amid a wave of cryptocurrency thefts. In addition to Binance, which said Friday it was gradually bringing some withdrawal services back online, Brazil’s Mercado Bitcoin said this week it would absorb a $40 million loss following a hack.
Meanwhile, Democrats captured control of both chambers of Congress in the midterm elections Tuesday (Nov. 3), reversing the Republican majorities that helped deliver landmark stablecoin legislation with the GENIUS Act, PYMNTS reported Wednesday (Nov. 4).
The results could elevate some of crypto’s most persistent congressional critics into positions to establish legislative priorities, summon executives and scrutinize regulators.
“Washington’s next crypto battle may be fought less through legislation than through regulatory implementation, agency oversight and disputes over which institutions can offer digital financial services, and on what terms,” the report said.
