Mercado Bitcoin’s Bold Return Monday: Can Phased Reopening Really Cover Massive Losses?

Ever wondered what it’s like to watch a crypto giant get knocked off its pedestal—and then claw its way back? Mercado Bitcoin just dropped a bombshell update: after a staggering hack that siphoned off over $46 million in assets, they’re rolling out customer account access starting Monday. Yeah, it’s that wild. Imagine waking up one day and seeing your digital wallet drained by cyber pirates, but then the exchange promises to make it right by freezing stolen funds and tapping into its own coffers to replenish losses. They’re opening the gates in phases—first to peek at balances and investments, then eventually for transfers and trades, all after rigorous security checks. And hey—from a $20 million lifeline courtesy of Tether to their trading desk prepping repurchases around the globe, it’s a full-court press to regain trust. It makes you ask—how resilient can these crypto exchanges really be when the stakes are sky-high? Dive in and see what’s shaking in Brazil’s crypto scene. LEARN MORE.

Brazilian crypto exchange Mercado Bitcoin said it will begin restoring customer account access Monday after a hack that blockchain analysts estimated resulted in more than $46 million in stolen assets.

In a statement to Cointelegraph, Mercado Bitcoin said customers would initially regain access through its website to view balances, statements, holdings and investments. Transfers, withdrawals and trading will resume in later phases, subject to independent security testing.

Mercado Bitcoin also pledged to use company funds to replenish assets affected by the breach, saying more than $15 million in stolen funds had already been frozen with help from the industry.

“Our trading desk is preparing to begin the necessary repurchases in domestic and international markets,” it said.

The update follows the exchange’s disclosure of a security breach on Monday, which saw attackers transferring funds from the company’s hot wallets and customer deposit addresses through standard transfers.

Addressing liquidity, Mercado said it had a strong cash position, bolstered by a $20 million investment from stablecoin issuer Tether to support operational expansion.