Mercado Bitcoin to resume cash withdrawals after $49M hack
Starting next week, customers can deposit and withdraw money through Brazil’s instant payment system. Crypto transfers remain suspended.
Starting next week, Mercado Bitcoin customers in Brazil will be able to deposit and withdraw funds through the country's instant payment system, Pix. The crypto exchange is resuming withdrawals after a $49 million hack drained wallets linked to the platform. Only customer-owned accounts will be eligible for withdrawals, and crypto transactions remain suspended with no estimated return date.
Mercado Bitcoin restarted its service on Monday, allowing users to view their accounts in read-only mode. The exchange's vice president of new business, Fabricio Tota, revealed the next steps in a recent video, stating that the resumption will be gradual with further services communicated to clients through MB's official channels.
The November 2 attack occurred four days after another major crypto hack, where hackers stole $6.3 billion from Binance's hot wallets. The FBI linked the Binance theft to North Korean hackers. Mercado Bitcoin assured it would cover the losses using its emergency fund and corporate treasury.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.