Mercado Bitcoin to restore account access after $46 million hack

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Brazilian cryptocurrency exchange Mercado Bitcoin plans to begin restoring customer account access on Monday following a security breach that resulted in more than $46 million in stolen assets, according to blockchain analysts.

Customers will initially be able to access their accounts through the exchange’s website to check balances, statements, holdings and investments. Trading, transfers and withdrawals will resume in subsequent stages after independent security checks.

The exchange said it would cover all losses using its own funds. More than $15 million in stolen assets has already been frozen with help from industry partners. Mercado Bitcoin also said its trading desk was preparing to repurchase the affected assets in domestic and international markets.

The breach, disclosed on Monday, involved attackers moving funds from the exchange’s hot wallets and customer deposit addresses through standard transactions.