Brazil's Biggest Bitcoin Exchange Says It Will Refund Users After a $40 Million Hack

Mercado Bitcoin, Brazil’s largest bitcoin exchange, said it will refund users after a hack drained roughly $40 million from the platform. Withdrawals remain frozen with no restart date, and the exchange said customers will not bear the losses from the incident. The reimbursement commitment matters because it shifts the immediate cost of the breach onto the exchange rather than depositors, though the lack of a withdrawal timeline leaves users unable to access funds. Watch for details on the reimbursement process, any restart schedule for withdrawals, and whether the exchange discloses which tokens or wallets were affected.