Nu Holdings Ltd., the parent company of Nubank, has temporarily paused cryptocurrency deposits and withdrawals in Brazil due to an issue with an external provider. The disruption comes just a week after hackers stole $6.3 billion from Binance Holdings Ltd., raising concerns about security in the crypto space.
The company assured customers that all assets and information remain protected. In a statement, Nubank emphasized that the problem does not stem from its own infrastructure and does not compromise customer security. However, the identity of the affected business partner was not disclosed.
This suspension highlights the ongoing challenges faced by financial institutions integrating cryptocurrency services. While Nubank has not specified a timeline for resolving the issue, the incident underscores the need for robust security measures in the rapidly evolving crypto market.