Mercatox Exchange Confirms Hack, Says Users Protected Against Loss




Mercatox users may have noticed that several cryptocurrency wallets have been undergoing maintenance for the last few days. On Thursday, the exchange posted a notice on its site to confirm that the exchange had seen some wallets “compromised by hackers” on September 17. The company reassured users that their holdings remain secure, as Mercatox maintains a reserve fund to cover any potential losses.

According to the notification, the hack involved an attack on some hot wallets. Fortunately, Mercatox says that the exchange maintains most user funds in safer cold-storage wallets – offline wallets that provide greater protection against hacking threats. The company noted that it only holds a “minimum amount of funds” in hot wallets to minimize these types of risks.

The announcement confirmed that an investigation of the incursion is ongoing, and full function should be restored in short order:

At the moment we are investigating that incident and upgrading protection of some hot wallets.

You can be sure that your coins are safe and you can trade in normal mode. Mercatox is here for you to make your trades comfortable and safe!

The normal work of all coins will be restored soon.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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