Mercado Bitcoin to Start Monday’s Phased Reopening, Cover Losses

Brazilian crypto exchange Mercado Bitcoin says it will start restoring customer account access on Monday following a security breach that blockchain analysts estimated led to more than $46 million in stolen assets.

In an update provided to Cointelegraph, the exchange outlined a phased recovery plan that begins with read-only access for customers—such as viewing balances, statements, holdings and investments—before transfers, withdrawals and trading resume later after independent security testing.

Key takeaways

• Mercado Bitcoin will restore customer access in phases, starting Monday with website access for viewing balances and holdings.
• Withdrawals, transfers and trading are expected to come later, contingent on independent security testing.
• The exchange says it is replenishing affected funds using company resources, with more than $15 million already frozen.
• Mercado Bitcoin states its team is preparing repurchases in domestic and international markets to support the recovery process.
• It also cited a strong cash position, supported by a $20 million investment from Tether.

What Mercado Bitcoin says is happening next

The restoration plan is designed to return customers to a safe baseline first. According to the exchange, Monday’s access will allow users to check their balances and account records via Mercado Bitcoin’s website. That includes statements and information about holdings and investments, but stops short of re-enabling any activity that could expose users to additional risk before the security review is complete.

Only later phases—“subject to independent security testing,” the exchange said—will bring back full functionality such as transfers, withdrawals and trading. For customers and market participants, the difference matters: viewing assets is not the same as moving them, and resuming trading in particular typically requires confidence that systems are secure enough to process orders and custody-related operations without further compromise.

Freezing stolen funds and using company resources

Alongside the account-access restoration, Mercado Bitcoin said it is taking steps to make customers whole where assets were affected. The exchange pledged to use company funds to replenish those impacted by the breach.

Mercado Bitcoin reported that more than $15 million of stolen funds had already been frozen with help from the industry. While the figure does not equal the full estimate of assets taken, it suggests that some portion of the stolen crypto was caught quickly enough—an outcome that often depends on how fast exchanges, compliance teams, and counterparties can detect suspicious flows and coordinate enforcement measures.

The exchange also said its trading desk is preparing to begin “necessary repurchases in domestic and international markets.” The practical effect is that recovery may involve acquiring assets to cover customer exposures rather than relying solely on what is recoverable from frozen funds.

How the hack worked and why liquidity remains in focus

The update follows Mercado Bitcoin’s initial disclosure of the incident on Monday, reported by Cointelegraph. In that earlier account, attackers allegedly moved funds from the exchange’s hot wallets and from customer deposit addresses using standard transfers.

This detail is important because it points to the mechanics of the compromise rather than a purely operational outage. If attackers can withdraw or transfer funds directly from hot storage and deposit addresses, the exchange’s immediate challenge becomes twofold: limit further loss and stabilize custody and account systems so customers can later access and reconcile balances accurately.

Mercado Bitcoin also addressed liquidity concerns. It said it had a strong cash position, bolstered by a $20 million investment from stablecoin issuer Tether intended to support operational expansion. While the investment is not presented as a direct “hack reimbursement,” it contributes to the exchange’s ability to keep operations running and support replenishment activities during the incident response window.

What customers should watch as trading returns

The phased approach means customers may get clarity sooner than trading functionality—while Mercado Bitcoin works through security testing before allowing withdrawals and active trading again. Traders, in particular, should treat the transition from read-only access to withdrawals and trading as a key milestone: it is where operational risk, custody controls, and system integrity become visible in day-to-day workflows.

Readers should also monitor how much of the estimated $46 million impact is recoverable or neutralized over time, especially given the company’s statement that over $15 million has already been frozen. The gap between the initial theft estimate and the frozen amount is likely to drive the pace and scale of replenishment, including any repurchases the exchange says it plans to conduct.

As Mercado Bitcoin moves from viewing-only access to full customer activity, the next signals to watch are the results of independent security testing and the schedule for restoring withdrawals, transfers, and trading—because those steps will determine how quickly trust in custody and exchange operations can be rebuilt after a breach.