Mercado Bitcoin plans phased reopening after hack
BROBROK News · Based on reporting by Cointelegraph ·
Mercado Bitcoin said it will start restoring customer account access on Monday, beginning with read-only access to balances, statements, holdings and investments. Withdrawals, transfers and trading will remain suspended until independent security checks are completed. The exchange said it will use company funds to cover losses tied to the breach and reported that more than $15 million in stolen assets had already been frozen with help from the industry.
Key points
- Initial access will be limited to viewing account information
- Withdrawals, transfers and trading remain paused
- The company said it will cover losses with its own funds
- More than $15 million in stolen funds has reportedly been frozen
- Mercado Bitcoin cited a strong cash position and past Tether investment
Why it matters
The incident highlights the operational impact of exchange hacks on customer access and market confidence. How Mercado Bitcoin handles loss coverage and phased recovery will matter to users and observers across the crypto sector.
Original headline: “Mercado Bitcoin says phased reopening to begin Monday, will cover losses”
Read the original on Cointelegraph
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.