---
title: Mercado Bitcoin pledges to cover all user losses after nearly $40 million hack
url: >-
  https://www.cryptocatalyst.news/articles/2026-11-03-mercado-bitcoin-promises-to-cover-user-losses-after-nearly-40-million-hack
canonical: >-
  https://www.cryptocatalyst.news/articles/2026-11-03-mercado-bitcoin-promises-to-cover-user-losses-after-nearly-40-million-hack
date: '2026-11-03T14:06:00.318526+00:00'
category: bitcoin
tags:
  - mercado-bitcoin
  - hack
  - security
  - tether
  - brazil
source: CoinDesk
source_url: >-
  https://www.coindesk.com/business/2026/11/03/mercado-bitcoin-pledges-to-cover-all-user-losses-after-near-usd40-million-hack
sources:
  - name: CoinDesk
    url: >-
      https://www.coindesk.com/business/2026/11/03/mercado-bitcoin-pledges-to-cover-all-user-losses-after-near-usd40-million-hack
  - name: Decrypt
    url: >-
      https://decrypt.co/382341/mercado-bitcoin-halts-withdrawals-40-million-hack
publisher: CryptoCatalyst
summary: >-
  Brazilian exchange Mercado Bitcoin says it will cover all user losses after a
  nearly $40 million hack. Withdrawals were paused as partners froze $11
  million.
image: >-
  https://www.cryptocatalyst.news/images/articles/2026-11-03-mercado-bitcoin-promises-to-cover-user-losses-after-nearly-40-million-hack.webp
generated_by: automated editorial pipeline
---
# 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.

## FAQ

### 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.

## Sources

This article synthesizes reporting from [CoinDesk](https://www.coindesk.com/business/2026/11/03/mercado-bitcoin-pledges-to-cover-all-user-losses-after-near-usd40-million-hack), [Decrypt](https://decrypt.co/382341/mercado-bitcoin-halts-withdrawals-40-million-hack), written by an automated editorial pipeline. See https://www.cryptocatalyst.news/editorial-policy.

## How to cite

CryptoCatalyst.news, "Mercado Bitcoin pledges to cover all user losses after nearly $40 million hack", 2026-11-03, https://www.cryptocatalyst.news/articles/2026-11-03-mercado-bitcoin-promises-to-cover-user-losses-after-nearly-40-million-hack