Mercado Bitcoin pledges to cover $38 million hack, suspends withdrawals

Mercado Bitcoin , Brazil’s largest cryptocurrency exchange, has announced that customers will not bear the cost of a security breach that resulted in the loss of millions of dollars in digital assets. The platform confirmed that client balances and data remain secure following the hack that occurred on November 2. Mercado Bitcoin detected suspicious activity early in the morning and immediately froze all deposits and withdrawals to contain the incident. Exchange officials stated that no customer assets or data were compromised during the breach. Security experts have reported differing estimates regarding the scale of the loss. While Mercado Bitcoin has reported the value of the involved assets at approximately $38 million, other sources have offered higher figures.

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