A Brazilian crypto exchange plans to show customers their money, not let them move it
The staged restart will show the November 2 crypto snapshot, while withdrawals and trading await later phases. Read the full story on CryptoSlateUnderstand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
Brazilian crypto exchange Mercado Bitcoin plans to restore account viewing gradually on Nov. 9, allowing customers to inspect their holdings while withdrawals and trading remain unavailable after its Nov. 2 security incident.
The exchange's recovery plan says customers will be able to see balances by asset and category on its website. Its app will offer a summary of holdings, with API access returning later. Deposits and transfers also remain unavailable, along with cards, payment services including Pix and TED, new products and account opening.
When CryptoSlate reported the shutdown on Nov. 2, the exchange had provided no reopening timetable. Mercado Bitcoin set out the Nov. 9 viewing stage in its Nov. 4 announcement, saying transaction services would follow as security checks were completed.
Related ReadingCustomers should expect a historical view of their crypto positions. According to the exchange, the quantities shown will reflect their accounts on Nov. 2 before the incident. Their valuations in Brazilian reais will also use prices from that moment, with prices updated when trading resumes.
That means seeing a crypto balance will give customers a reference for their recorded holdings, without enabling them to sell or withdraw those assets. The displayed BRL valuation will not yet show how subsequent market price moves have changed their value.