Mercado Bitcoin Promises to Cover Every User Loss After Hot Wallet Hack Across 10 Blockchains

Brazilian crypto exchange Mercado Bitcoin says it will absorb the full cost of Monday’s attack, so customers should not lose any money. Hackers emptied its hot wallets on at least 10 blockchains, and the platform paused access as a precaution. Security researchers first linked the theft to more than $40 million, but the exchange puts the actual loss at around $38 million.

Frozen Funds and Partner Support

About $11 million of the stolen assets has already been frozen with help from Tether, Circle and Chainalysis. The company also said no customer data was exposed and that its teams are investigating, tracing the money and working with authorities.

Link to the Binance Hack

The breach followed only days after more than $6 billion was taken from Binance, which began reopening withdrawals on Sunday. The FBI blamed that attack on North Korea’s TraderTraitor group, calling it the largest security breach in crypto history. No public evidence has tied the Mercado Bitcoin incident to that case.