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Mercado Bitcoin Pledges to Cover User Losses After Nearly $40 Million Hack
(12 hours ago) · 1 source · Summarized by CryptoBipto
Brazilian cryptocurrency exchange Mercado Bitcoin has announced it will cover all user losses following a hack that resulted in nearly $40 million in stolen funds. The exchange stated it would use its own reserves to make affected users whole.
WHY IT MATTERS
When you keep cryptocurrency on an exchange, you are trusting that company to hold your funds safely, similar to keeping money in a bank.
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SOURCES
- coindesk.com
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