Another exchange hack, another "we'll cover the losses" promise.
Mercado Bitcoin, a major Latin American exchange, was hit for an estimated $46M+ (analyst estimates).
The exchange says it will cover customer losses.
Account access returns Monday, starting with balance viewing only.
Same week as the Binance PoR refill and a $133M theft at a French bank. Custody risk is the theme of November.
My take: the real test is how fast withdrawals reopen, not the press statement. Watch for on-chain tracing of the stolen funds, often routed through $ETH bridges and mixers.
Do you keep most of your $BTC on an exchange, or in self-custody?
#CryptoSecurity #ExchangeHack #Bitcoin
Mercado Bitcoin, a major Latin American exchange, was hit for an estimated $46M+ (analyst estimates).
The exchange says it will cover customer losses.
Account access returns Monday, starting with balance viewing only.
Same week as the Binance PoR refill and a $133M theft at a French bank. Custody risk is the theme of November.
My take: the real test is how fast withdrawals reopen, not the press statement. Watch for on-chain tracing of the stolen funds, often routed through $ETH bridges and mixers.
Do you keep most of your $BTC on an exchange, or in self-custody?
#CryptoSecurity #ExchangeHack #Bitcoin