Brazilian cryptocurrency exchange Mercado Bitcoin says it will begin restoring customer account access on Monday, following a hack that blockchain analysts estimate led to more than $46 million in stolen assets.
In the first phase, customers will be able to use the exchange’s website to view balances, statements, holdings and investments. Trading, transfers and withdrawals will remain suspended until later phases, which will depend on independent security testing.
The company said it would use its own funds to replenish assets affected by the breach. It also reported that more than $15 million in stolen funds had been frozen with help from others in the industry. Mercado Bitcoin said its trading desk was preparing to repurchase assets in domestic and international markets.
The exchange previously disclosed that attackers moved funds from its hot wallets and customer deposit addresses using standard transfers. On liquidity, Mercado Bitcoin said it had a strong cash position, supported in part by a $20 million investment from stablecoin issuer Tether to fund operational expansion.
Sources: Cointelegraph.