Another crypto exchange has been hit by a major security incident, just days after the massive Binance hack.

This time, it's Mercado Bitcoin, one of Brazil's largest crypto exchanges. The company suspended deposits and withdrawals after wallets linked to the exchange were drained across at least ten different blockchains.

Security researchers estimate that more than $40 million worth of crypto was stolen.

The attacker reportedly moved funds from wallets on Ethereum, Bitcoin, Solana, Tron, Avalanche, Polygon and several other networks. So far, there's no clear explanation of how the attacker gained access to the wallets.

Mercado Bitcoin says it identified and contained the incident, and that customer funds and personal data were not affected. The exchange is now investigating and working with authorities to track the stolen assets.

Tether has also confirmed that it froze around $4.5 million in USDT linked to the attack.

What's interesting is the timing. This happened only days after the $6.3 billion Binance hack. However, there's currently no public evidence connecting the two incidents, and nobody has attributed this latest attack to a specific hacking group.

Honestly, my observation is that more and more crypto exchanges will be targeted in the future.

AI is making it easier to discover vulnerabilities, and hackers or other malicious actors are using these security holes to break into systems and drain accounts. They can also jailbreak AI models and use them to find vulnerabilities or plan and carry out attacks in different ways.

The more I think about it, the more Elon Musk's statement, "Everyday is zero-day these days," resonates with me.