Mercado Bitcoin’s phased reopening restored a view of customer account records—not the ability to move funds. According to Cointelegraph’s report published on Nov. 10, 2026, at 02:25:29 UTC+8, the Brazilian crypto exchange began restoring read-only access on Monday, a week after attackers drained an estimated $49 million.
A spokesperson told Cointelegraph that access would begin at 19:00 UTC, with all accounts expected to be viewable by 21:00 UTC. The displayed holdings would reflect account balances as of Nov. 2, the day of the attack. The exchange had not provided a date for withdrawals to resume.
Account records and blockchain transfers
In a video posted to the exchange’s X account, Fabricio Tota, vice president of new business, said read-only access was intended to reassure customers that their assets remained recorded on the platform. That account view is distinct from the blockchain movements analysts examined after the attack.
Blockchain security analysts raised concerns that attackers had gained access to addresses and drained funds using standard transfers rather than a smart contract exploit. Analysts traced some stolen funds to customer deposit addresses, but Mercado Bitcoin had not explained how the attackers gained access to its wallets.
Blockchain data company Bitquery found that, as of Nov. 4, wallets it linked to the attacker held most of the stolen funds that had escaped freezes, including 106.07 BTC. That finding describes attributed wallet holdings at a specific observation date, not a complete accounting of customer balances or recoveries.
Reimbursement pledge and recovery steps
Mercado Bitcoin said it was using company funds to replace the stolen assets and that customers would not bear the losses. It pledged on Nov. 4 to cover all losses, with its finances bolstered by a $20 million investment from stablecoin issuer Tether in July.
Tota said nearly all assets had not been touched or involved in the incident. He also said a portion of the stolen funds had been frozen in the hours after the exchange announced the attack; the report did not specify an amount.
Describing the reopening as “a more conservative approach,” Tota said the company wanted to ensure its return took place with the utmost security. The next recovery phase would require users to confirm their registration details before moving funds. The exchange planned to restore withdrawals through Pix, Brazil’s instant payment system, initially restricting them to accounts in each customer’s own name. Tota gave no date for either step.
Mercado Bitcoin, described in the report as one of Brazil’s largest crypto exchanges, told Brazilian magazine Veja in late October that it had more than 4.8 million customers and had processed over 215 billion Brazilian reais ($39 billion) in cumulative transactions.