Mercado Bitcoin says phased reopening to begin Monday, will cover losses — SkimNews
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- Mercado Bitcoin said it would restore customer access Monday after a breach that blockchain analysts estimated resulted in more than $46 million in stolen assets.
- Mercado Bitcoin will initially reopen its website for balances, statements, holdings and investments, while transfers, withdrawals and trading remain suspended during later phases pending independent security testing.
- Mercado Bitcoin pledged to use company funds to replenish assets affected by the breach, while more than $15 million in stolen funds have already been frozen with industry assistance.
- Mercado Bitcoin said its trading desk is preparing to begin repurchases in domestic and international markets.
- Mercado Bitcoin disclosed that attackers moved funds from company hot wallets and customer deposit addresses through standard transfers.
- Tether invested $20 million in Mercado Bitcoin, bolstering the exchange’s cash position to support operational expansion.
Why it matters: For customers, Monday restores visibility into balances and holdings but not immediate access to cash or trading, with withdrawals deferred until independent security testing is complete. The company’s loss-replenishment pledge, more than $15 million already frozen, and Tether’s $20 million cash infusion underpin its stated effort to restore affected assets and operations.
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