Brazilian crypto exchange Mercado Bitcoin says it will begin restoring customer access to accounts on Monday, after a hack that blockchain analysts estimated led to more than $46 million in stolen crypto assets.
In an update shared with Cointelegraph, the exchange said users will regain access in stages. The first phase focuses on letting customers check balances and view statements, holdings, and investments. Features that involve moving valueโsuch as transfers, withdrawals, and tradingโwill return later, contingent on independent security testing.
Key takeaways
- Mercado Bitcoin will restart customer account access on Monday, initially enabling balance and account viewing.
- Withdrawals, transfers, and trading are delayed until later phases after independent security testing.
- The exchange says more than $15 million of stolen funds have already been frozen with help from the wider industry.
- Mercado Bitcoin plans to use company funds to replenish affected assets and begin repurchases in domestic and international markets.
Restoring access in phases after the breach
The Monday restart is designed to balance two priorities: restoring day-to-day visibility for customers quickly while ensuring that systems handling funds are safe enough before operational features return. According to Mercado Bitcoin, customers will first regain access through the exchangeโs website to view account information, including balances and portfolio holdings.
Only after additional safeguards are completedโvia independent security testingโwill the exchange move to re-enable actions that can increase risk in the aftermath of a breach, including withdrawals and trading.
What the hack targeted and how funds moved
Mercado Bitcoinโs plan comes after the exchange disclosed the security breach on Monday, following activity involving transfers out of its hot wallets and customer deposit addresses. Cointelegraph previously reported that the attackers used standard transfer mechanisms to move funds after obtaining access.
That detail matters because it influences what โsafe to resumeโ means in the weeks ahead. If the incident involved direct use of active wallets and address structures, then simply switching off systems may not be enoughโexchanges need assurance that the controls governing those wallets and deposit paths have been fully hardened before allowing withdrawals or trading again.
Replenishment plans and frozen funds
Beyond access restoration, Mercado Bitcoin also addressed how it plans to make customers whole. The exchange pledged to replenish assets impacted by the breach using company funds, stating that more than $15 million in stolen funds had already been frozen with assistance from participants in the industry.
The exchange said its trading desk is preparing to begin the necessary repurchases in both domestic and international markets. For customers, that matters because repurchases are a key mechanism for rebuilding inventories or exposure, especially when a portion of the stolen assets is recovered or frozen rather than immediately returned in full.
Liquidity stance amid operational disruption
Liquidity has been a central question for exchanges after hacks, particularly when withdrawals and trading are paused. Mercado Bitcoin said it had a strong cash position, citing a $20 million investment from stablecoin issuer Tether that was described as support for operational expansion.
While that funding was framed as part of broader business operations rather than specifically as a breach-response reserve, it signals that the exchange believes it has room to execute replenishment without relying entirely on market leverage or customer flowsโat least in the immediate aftermath.
What to watch next
Customers should watch Mercado Bitcoinโs subsequent phased timelineโespecially when withdrawals and trading return after independent security testingโand track whether additional stolen funds are recovered beyond the $15 million reported frozen, as well as how quickly the exchange completes its repurchase activity to replenish affected positions.
