TREE NEWS update: Mercado Bitcoin said the security incident on Nov. 2 involved about $38 million in assets and caused no loss to customer funds, which the exchange will cover. The Brazilian platform said $11 million has been frozen with the crypto community and partners, including more than $4.5 million in USDT frozen by Tether. Outside estimates of the loss vary: Hypernative flagged over $40 million in suspicious transfers, Arkham at least $46 million and Chainalysis about $49 million. Deposits and withdrawals remain suspended with no restart date.
Mercado Bitcoin to Cover Losses From $38M Hack; Withdrawals Still Paused
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AI take
The gap between Mercado Bitcoin's $38 million figure and outside estimates ranging far higher is the detail that matters: the exchange's promise to absorb losses is only as credible as its own accounting, and the frozen $11 million — including Tether's USDT freeze — suggests partial recovery rather than full containment. The indefinite suspension of deposits and withdrawals is the real pressure point, since a platform covering losses internally while its rails stay shut invites questions about liquidity and the completeness of the disclosed figure. Whether independent trackers reconcile toward the exchange's number, and whether a restart date emerges, are the open questions.
Generated by AI for reference only.
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