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Mercado Bitcoin: $46M hack, phased reopening
Mercado Bitcoin will begin restoring customer account access on Monday after a hack resulted in over $46 million in stolen assets. Customers will initially be able to view their holdings, while withdrawals and trading remain suspended. The exchange has pledged to cover losses using company funds.
Mercado Bitcoin, a Brazilian crypto exchange, announced that it will start a phased reopening on Monday, allowing customers to view their balances and holdings.
The exchange was hacked, resulting in over $46 million in stolen assets, according to blockchain analysts. However, more than $15 million in stolen funds have already been frozen with the help of the industry.
Mercado Bitcoin has pledged to use company funds to replenish assets affected by the breach and will begin repurchasing the necessary assets in domestic and international markets. The exchange also stated that it has a strong cash position, bolstered by a $20 million investment from Tether.
Source: cointelegraph.com
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