Mercado Bitcoin pledges to cover user losses after $40M hack

Brazilian exchange Mercado Bitcoin has pledged to cover all user losses after wallets on at least 10 chains were drained of about $40 million, with partners including Tether, Circle and Chainalysis helping freeze roughly $11 million of the stolen assets. The exchange had paused deposits and withdrawals after the breach, which came days after the record $6.3 billion Binance hack.

No details were disclosed on which chains were affected, how attackers gained access, or when withdrawals will resume.