Mercado Bitcoin to resume cash withdrawals after $49M hack

Crypto exchange Mercado Bitcoin will resume deposits and withdrawals in Brazilian reais via Pix, the country’s instant payment system, next week, a company representative told Cointelegraph. The restart will come more than 15 days after an attack drained an estimated $49 million from wallets linked to the exchange.

Customers will only be able to withdraw funds to accounts in their own name. Mercado Bitcoin will also credit customers’ accounts with proceeds from the settlement of fixed income products. Crypto deposits and withdrawals remain suspended, with no date set for their return.

Mercado Bitcoin, one of Brazil’s largest crypto exchanges, began restoring access on Monday, a week after the attack, by allowing customers to view their accounts in read-only mode.