Mercado Bitcoin Assures Users Won’t Lose Funds Following $38M Security Breach

Mercado Bitcoin has assured customers they won’t lose any funds after the security incident that led it to suspend deposits and withdrawals on Monday. The Brazilian crypto exchange has now put the value of the assets involved at around $38 million. Meanwhile, it had already blocked $11 million in coordination with Tether, Circle, Paxos, BRL1, and Chainalysis. In its latest update, Mercado Bitcoin said other amounts eligible for blocking have also been identified, and containment efforts are continuing. The statement comes after an incident identified in one of the company’s systems during the early hours of Monday.