Mercado Bitcoin Pledges to Cover User Losses After $38 Million Breach

Mercado Bitcoin, a Brazilian crypto exchange, pledged to cover user losses after disclosing a security breach on Nov. 2 that involved about $38 million in stolen digital assets. Suspicious transfers were estimated at more than $46 million, a figure that has not been reconciled with the roughly $38 million theft figure. Mercado Bitcoin has not provided a final net-loss figure. The reported $11 million freeze is separate from both estimates. The exchange halted deposits, withdrawals and other platform services and notified authorities.