Mercado Bitcoin pledges to cover all user losses after nearly $40 million hack
Mercado Bitcoin says it will cover all customer losses after a security breach involving nearly $40 million in stolen assets. The Brazilian exchange paused deposits and withdrawals, while partners including Tether, Circle and Chainalysis helped freeze about $11 million.
Key takeaways
- Mercado Bitcoin pledged to cover all user losses after a hack involving nearly $40 million.
- The Brazilian exchange paused deposits and withdrawals following the security incident.
- Tether, Circle and Chainalysis helped freeze about $11 million in stolen assets.
- Tether froze more than 4.5 million USDT connected to the attack.
Mercado Bitcoin, Brazil’s largest crypto exchange, has pledged to cover all user losses after a hack involving nearly $40 million in assets. The company paused deposits and withdrawals following the security incident, according to reports.
Tether, Circle and blockchain analytics firm Chainalysis helped freeze about $11 million of the stolen assets. Tether alone froze more than 4.5 million USDT tied to the attack, Decrypt reported.
How the freeze and reimbursement plan differ
The $11 million freeze — including 4.5 million USDT — limits what the attacker can move, but it does not recover the funds or guarantee the remaining $29 million will be found. Mercado Bitcoin’s pledge to cover all user losses is a separate commitment: the freeze addresses the attacker’s haul, while the reimbursement promise addresses who bears any shortfall. The exchange has not provided details on how or when reimbursements will be made.
Context: a wave of exchange hacks
The incident follows a suspected Binance hack that drained over $5 billion from hot wallets on October 29, 2026, and a Bitget hack that reached $387 million in September. In each case, stablecoin issuers froze some stolen assets, but full recovery remained uncertain. Mercado Bitcoin’s stated plan to make customers whole is a key distinction for users, though the timeline for resuming deposits and withdrawals has not been reported.
Frequently asked questions
How much was stolen from Mercado Bitcoin?
Reports put the assets involved in the hack at nearly $40 million.
Will Mercado Bitcoin customers lose money?
Mercado Bitcoin has pledged to cover all user losses. The reports do not provide details on reimbursement timing or process.
How much of the stolen crypto was frozen?
About $11 million was frozen with help from Tether, Circle and Chainalysis. Tether froze more than 4.5 million USDT tied to the attack.
Are Mercado Bitcoin deposits and withdrawals working?
The exchange paused deposits and withdrawals after the incident. The reports do not say when those services will resume.