Mercado Bitcoin to Cover Affected Assets with Company Funds After Hack

Odaily reports: Brazilian crypto exchange Mercado Bitcoin has stated that it will use company funds to cover the assets affected in this security breach. Its trading desk is preparing to carry out necessary buybacks in both domestic and international markets.Mercado Bitcoin said that more than $15 million in stolen funds has already been frozen with industry assistance. The exchange also stated that its cash position is strong and that it has received a $20 million investment from stablecoin issuer Tether to support operational expansion.The exchange will begin phased restoration of customer account access on Monday, with users initially able to view balances, statements, holdings, and investment information through the website. Transfer, withdrawal, and trading functions will be restored in subsequent phases, depending on independent security testing. (Cointelegraph)