Brazilian fintech company Nubank suspends crypto deposits and withdrawals in Brazil due to issue with external service provider
According to Bloomberg, Brazilian fintech company Nu Holdings (Nubank) announced on Friday that it had suspended its crypto deposit and withdrawal business in Brazil due to a problem with an external service provider. In a statement, the company said that all assets and information are protected, that the problem is unrelated to the company's own infrastructure, and that it will not jeopardize customer safety.
Nubank did not disclose the name of the partner involved, nor did it say how many customers were affected. The company said other cryptocurrency products are operating normally. Nubank has about 120 million customers in Brazil.
On the same day, Mercado Pago also suspended some cryptocurrency transfer operations due to a problem with an external service provider. Neither company confirmed whether they were affected by the same service provider. The incident came a week after Binance was robbed of about $6.3 billion last month.
Original source:
Title: Nubank Suspends Crypto Deposits, Withdrawals in Brazil Over Provider Issue Publisher: Bloomberg Publication date: 2026-11-06 URL: https://www.bloomberg.com/news/articles/2026-11-06/nubank-halts-some-crypto-transactions-citing-snag-with-provider Source nature: media report (quoting company statement) Verification status: Bloomberg report read in this review and cross-checked with Reuters, verification date 2026-11-06 Supporting content: supports all core facts in the main text, the company statement, and customer scale
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Nubank, under Nu Holdings, suspended crypto deposits and withdrawals in the Brazilian market on November 6, attributing the move to instability at an external service provider. The company made clear that the problem was not with its own infrastructure, that customer assets and information are protected, and that other crypto products are operating normally. Nubank has about 120 million customers in Brazil.
In terms of capital and service pathways, Nubank's crypto business (NuCripto), as a virtual asset intermediary, relies on external data or monitoring service providers to complete deposits and withdrawals. The suspension is limited to the deposit and withdrawal functions; other products such as buying and selling are not affected. Mercado Pago on the same day suspended some external wallet transfers due to an incident involving a risk monitoring and anti-money-laundering service provider, and said deposits may be delayed. Neither company disclosed the service provider's name.
Compared with last week's roughly $6.3 billion theft at Binance, this time it was a function suspension caused by a service-provider failure rather than asset theft. The similarity is that both occurred in crypto trading channels; the key difference is that the interruptions at Nubank and Mercado Pago stemmed from instability at third-party service providers rather than attacks on the exchanges themselves, and the company statements said asset safety was not threatened.
For Nubank customers, deposits and withdrawals are temporarily unavailable, but existing assets and the use of other crypto products are not affected. For the platform, reliance on external service providers means that a problem with a single vendor can interrupt core deposit and withdrawal functions. For the market, the incident occurred after Binance was robbed, increasing attention on the continuity of crypto channels, but it did not involve customer asset losses.
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The suspension is limited to deposits and withdrawals; other crypto products are operating normally, and the company statement says assets and information were not affected within its own infrastructure.
Nubank did not disclose the service provider's name or the number of affected customers; total customers are about 120 million.
The incident occurred on the same day as Mercado Pago's, but neither company confirmed whether the same service provider was involved, and both emphasized customer fund safety.