Mercado Bitcoin has initiated a phased restoration of read-only access for its users following a security breach that occurred on November 2. The platform, which serves over 4.8 million customers, confirmed that users can now view their account balances as they appeared prior to the incident.
The exchange reported that attackers drained approximately $49 million from the platform. While the company has not provided a specific timeline for the resumption of withdrawals, it stated that it intends to cover all losses using its own capital, supported by a $20 million investment from Tether received in July.
Company vice president Fabricio Tota noted that the exchange is adopting a conservative security approach. Future recovery phases will require users to verify their registration details. Withdrawals are expected to be restored through Brazil’s Pix payment system, restricted to accounts held in the user's own name.
Blockchain data firm Bitquery identified that wallets linked to the attackers held 106.07 BTC as of November 4. Mercado Bitcoin has not yet disclosed the technical details regarding how the unauthorized access to its wallets was achieved, though some stolen funds were frozen shortly after the attack.
