Mercado Bitcoin restores access in phases, customers can check balances first

Brazilian crypto exchange Mercado Bitcoin began a phased restoration of platform access on Monday, letting customers log in via the website from 16:00 local time with full coverage expected by 18:00, after a hack forced it to suspend deposits and withdrawals. Estimates of the losses from the attack range from $38 million to $46 million, according to media and on-chain analysts. The exchange said customer balances remained intact and that it will cover stolen balances with its own funds, with balance updates synced to the platform reopening and markets restarting. This first phase only allows customers to view balances and positions, while withdrawals and trading remain paused pending further security checks. What to watch next is the timing of subsequent phases that restore trading and withdrawals.