Mercado Bitcoin said customer account access will begin returning on Monday after a security breach that analysts estimated led to more than $46 million in stolen assets. The exchange said the restoration will happen in stages rather than all at once.
In the first phase, users will be able to log in through the website to view balances, statements, holdings and investments. Core account activity including transfers, withdrawals and trading will remain suspended until later phases, which the company said depend on independent security testing.
Initial access comes before full service returns
The company described the reopening as a phased process following the breach. Monday’s step is limited to account visibility, with no immediate return of asset movement or trading functions.
Mercado Bitcoin said transfers, withdrawals and trading will only resume after external security checks are completed. It did not give a timetable for those later stages in the update.
Exchange says it will cover affected assets
Mercado Bitcoin said it plans to use company funds to replenish assets affected by the incident. The exchange also said more than $15 million in stolen funds had already been frozen with help from other participants in the industry.
According to the update, the company’s trading desk is preparing to begin repurchases in domestic and international markets. The statement presented that effort as part of the response to the losses linked to the breach.
Attack targeted hot wallets and deposit addresses
The latest notice follows Mercado Bitcoin’s earlier disclosure that attackers moved funds from the company’s hot wallets and from customer deposit addresses. The transfers were described by the company as standard transfers.
Analysts had estimated the value of the stolen assets at more than $46 million. Mercado Bitcoin’s statement did not revise that figure in the update, but focused on access restoration, reimbursement plans and the status of frozen funds.
Liquidity position and next steps
To address liquidity concerns, Mercado Bitcoin said it maintains a strong cash position. It added that this position had been bolstered by a $20 million investment from stablecoin issuer Tether intended to support operational expansion.
For now, the next confirmed step is the limited reopening of customer access on Monday. Broader account functions, including withdrawals and trading, remain contingent on the completion of independent security testing.
Source: cointelegraph.com