Mercado Bitcoin, one of Brazil’s largest cryptocurrency exchanges, announced it will begin restoring customer account access on Monday following a major security breach that led to the theft
Mercado Bitcoin, one of Brazil’s largest cryptocurrency exchanges, announced it will begin restoring customer account access on Monday following a major security breach that led to the theft of over $46 million in digital assets. Blockchain analysis firms estimated the scale of the stolen funds after the incident prompted a temporary account suspension for users.
According to the company’s statement, customers will regain access to their accounts through the Mercado Bitcoin website, where they can view balances, statements, and investment holdings. The exchange emphasized that the restoration process will be gradual to ensure continued security.
Mercado Bitcoin further explained that transactional features such as transfers, withdrawals, and trading will be reinstated in later stages. Each stage will proceed only after independent security testing validates the safety of the platform’s systems.
Customers will be able to check their balances and holdings first, while transfers, withdrawals, and trading will return in later phases following thorough security audits.
The exchange pledged to use its own funds to compensate for assets lost in the breach. Mercado Bitcoin reported that over $15 million of the stolen funds have already been frozen with support from various industry partners.
Company representatives stated that the in-house trading desk is ready to carry out the necessary repurchases in both domestic and international markets to replace affected user assets.
“Our trading desk is preparing to begin the necessary repurchases in domestic and international markets,” the company said.
Mercado Bitcoin addressed questions about its liquidity position, affirming that it remains financially secure. The exchange confirmed a recent $20 million investment from Tether, a leading stablecoin issuer, aimed at supporting operational expansion and further strengthening its reserve position.
The company believes that this capital injection will help maintain a strong cash position during account restoration and the ongoing post-incident recovery phase.
Founded in 2013, Mercado Bitcoin is recognized as one of the primary crypto trading platforms in Latin America, serving millions of users and offering a variety of digital asset investment options.
Mini dictionary: Tether is a prominent stablecoin provider known for issuing USDT, a digital currency pegged to the US dollar. Stablecoins are cryptocurrencies designed to maintain a consistent value by being backed or pegged to reserve assets.
Mercado Bitcoin coordinated with industry partners to freeze a significant portion of the compromised funds. The company continues to track the remaining assets through collaboration with blockchain analysis firms and law enforcement agencies.
Event Amount (USD) Total stolen assets $46 million Assets frozen so far $15 million Recent Tether investment $20 millionThe company plans to progressively update customers as more funds are recovered and as additional platform functionalities return.
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