Hackers target Brazil’s Pix system in $77 million attempted theft

Hackers attempted to steal more than 420 million reais ($77.4 million) from Brazilian banks on Friday by breaching systems operated by financial technology provider Sinqia, a subsidiary of Evertec. The attack targeted Pix, Brazil’s instant payment platform, and was blocked in large part by regulators, according to local media reports.

O Globo reported that roughly 380 million reais were directed at HSBC Holdings Plc’s Brazilian operations, while about 40 million reais were aimed at fintech firm Artta. The Brazilian central bank intervened and stopped about 350 million reais before the transfers were processed. Authorities have not disclosed the status of the remaining funds.

Sinqia confirmed the incident and said the breach was contained to Pix, adding that there is no evidence of unusual activity across its other platforms. The company said Pix has been taken offline while its systems are rebuilt with stronger security controls and will only return after a review by the central bank. No personal data was exposed, according to Sinqia.

HSBC said in a statement that customer accounts and funds were not affected and that protective measures were taken to block the fraudulent transactions.

The attempted heist underscores mounting risks associated with Brazil’s instant payments infrastructure. The episode follows a July breach of Pix provider C&M Software, when hackers siphoned off hundreds of millions of reais. Security experts warn that financial institutions and fintechs remain prime targets as criminals look to exploit rapid transfers and broad integration of real-time payment systems.

Evertec, which acquired Sinqia in late 2023, remains a major technology supplier to Brazil’s digital banking sector. The company is cooperating with investigators, including federal police, as inquiries into the breach continue. While immediate losses appear limited, recurring cyberattacks on Pix providers could challenge confidence in one of Brazil’s most widely used financial tools.