Mercado Bitcoin pledges to cover all user losses after near $40 million hack

Brazilian cryptocurrency exchange Mercado Bitcoin has pledged to cover any customer losses after a security breach on 2 November drained assets from wallets across at least 10 blockchains. The exchange put the value of assets involved at about $38 million, while independent estimates are higher. It temporarily suspended deposits and withdrawals and said customer balances remain recorded in their accounts.

Mercado Bitcoin said it had blocked about $11 million of the affected assets with help from industry partners, including Tether, Circle and Chainalysis. It said no customer data had leaked and that it was tracing the funds and working with authorities. The cause of the breach has not been disclosed, and the exchange has given no date for restoring services. Its pledge to protect customers remains a commitment rather than a completed reimbursement.