UPDATE: Mercado Bitcoin pledges to cover losses as $11 million frozen after hack
CIE News ·
Update to Mercado Bitcoin exploited for an estimated $40.0 million across multiple chains
Based on reporting by CoinDesk; not yet independently confirmed.
Mercado Bitcoin has pledged to cover all user losses following a near $40 million exploit, with partners helping freeze $11 million in stolen assets.
Mercado Bitcoin has pledged to cover all user losses following a hack that saw nearly $40 million stolen from the exchange, according to a report from CoinDesk. As previously reported, the platform suffered an exploit across multiple chains including Bitcoin and Ethereum, with losses estimated at around $40.0 million by DefiLlama. Industry partners Tether, Circle, and Chainalysis are assisting in the recovery efforts, and a total of $11 million of the stolen assets has already been successfully frozen.
Key facts
- Nearly $40M stolen
- $11M assets frozen
- All user losses to be covered
- Tether and Circle assisting