Mercado Bitcoin pledges to cover all user losses after near $40 million hack

Latin American cryptocurrency platform Mercado Bitcoin has announced a comprehensive restitution plan following a severe security breach that compromised hot wallets containing approximately $40 million in digital assets. Executive leadership acted swiftly to assure the public that consumer funds remain safe, explicitly promising that the exchange will fully absorb the financial damage out of its corporate treasury reserves.

The security compromise was identified late Tuesday night when automated monitoring tools flagged unauthorized withdrawal transactions originating from internal hot wallets. While the security team managed to isolate the breach within hours and secure cold storage funds, millions of dollars in ERC-20 tokens and Bitcoin were transferred to external attacker-controlled addresses. Mercado Bitcoin temporarily suspended deposits and withdrawals to perform a comprehensive audit of its operational infrastructure.

Mercado Bitcoin pledges to cover all user losses after near $40 million hack, setting a critical precedent for customer protection in the regional crypto landscape. Financial analysts noted that the platform’s transparent response helped prevent mass panic and panic-selling among Latin American retail investors. The exchange confirmed it is upgrading its multi-signature custody framework and partnering with external cybersecurity firms to audit all system access logs before fully resuming normal operations.

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