Mercado Bitcoin says it will cover losses after hack
BROBROK News · Based on reporting by Decrypt ·
Mercado Bitcoin, Brazil’s largest crypto exchange, said customers will not be responsible for losses from the incident that hit its systems on November 2. Deposits and withdrawals remain paused while the company investigates and restores security.
Key points
- The exchange says no customer funds were lost and no data was leaked.
- Estimates of the stolen amount range from about $38 million to nearly $49 million.
- Mercado Bitcoin says part of the assets have been blocked with help from industry partners.
- Tether said it froze more than $4.5 million in USDT linked to the incident.
- There is no timetable yet for resuming deposits and withdrawals.
Why it matters
The pledge puts the financial burden on the exchange rather than users, but the outcome depends on its own balance sheet. It also highlights how token freezes can slow the movement of stolen funds without fully reversing the damage.
Original headline: “Brazil's Biggest Bitcoin Exchange Says It Will Refund Users After a $40 Million Hack”
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.