Nubank Halts Crypto Deposits and Withdrawals in Brazil, Citing Issues with External Service Provider

November 7 - According to Bloomberg, Brazilian digital bank Nubank has temporarily suspended cryptocurrency deposit and withdrawal services in the Brazilian market due to issues with an external service provider. In a statement on Friday, the company said all assets and information remain protected, the issue is unrelated to its own infrastructure, and it will not compromise customer safety.

Nubank did not disclose the name of the external partner and said other crypto products are operating normally. The company has about 120 million customers in Brazil but did not specify how many customers were affected by the suspension.

Previously, Binance was gradually restoring withdrawal services for some assets after a $6.3 billion theft incident. Brazil's Mercado Bitcoin also said earlier this week that it would absorb the $40 million loss caused by a hack on its own.