Mercado Bitcoin Plans Phased Reopening as $46 Million Hack…
By Abdelaziz Fathi
AI summary of the source article
Mercado Bitcoin will begin restoring read-only customer access on November 9 following a security breach that drained an estimated $48.6 million. The exchange pledged to reimburse affected users using company funds.
Why it matters
The repurchase process matters because customers may have claims denominated in specific cryptocurrencies rather than in their dollar value at the time of the attack. Restoring those balances can therefore require Mercado Bitcoin to buy replacement assets at prevailing market prices.
Key facts
- Attackers drained approximately $48.6 million across 10 networks from Mercado Bitcoin hot wallets and customer deposit addresses.
- More than $15 million of the stolen assets has been frozen or blocked with assistance from stablecoin issuers and investigators.
- Read-only access resumes November 9, while trading, transfers, and withdrawals remain suspended pending independent security testing.
Source excerpt · FinanceFeeds
Brazilian cryptocurrency exchange Mercado Bitcoin will begin restoring customer access on November 9 after a security breach that blockchain researchers now estimate drained about $48.6 million across 10 networks. The first phase will provide read-only access through Mercado Bitcoin's website, allowing customers to check balances, statements, holdings and investments. Trading, transfers and withdr…