Mercado Bitcoin will absorb a $40 million loss from a hack, the Brazilian crypto broker said, with no customer losses expected. The attack on Monday targeted its hot wallets.

In a text message, Mercado Bitcoin said it had quickly contained the attack. Its response also includes an investigation into the incident and efforts to track the stolen assets.

The exchange is working with authorities and relevant partners to coordinate that response. Mercado Bitcoin’s commitment to absorb the hack loss accompanies those investigative and asset-tracking efforts.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder of The Cryptonomist. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.