Brazilian crypto exchange refunds all UST holders 1:1

  • Brazil-based crypto exchange Nox Bitcoin announced it will spend 620.000 Brazilian reais to reimburse UST holders, crypto news outlet Portal do Bitcoin reported.
  • The exchange will make up the difference between the current value of UST to ensure each UST holder has $1 for each 1 UST held.
  • The exchange does not appear to have any insurance or guarantee that would require it to reimburse holders.