A Brazilian crypto exchange plans to show customers their money, not let them move it

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.

Customers 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.

Orders placed before the shutdown will need attention too. Mercado Bitcoin says it canceled limit orders that were open when the platform went offline on Nov. 2. Customers will be able to submit fresh orders once trading returns.

The interruption also affected yield. The exchange says it temporarily discontinued its Ethereum staking product for security reasons, so ETH in that product earned no return during the interruption. It says other staking and digital-dollar passive-income products continued accruing, with accumulated passive-income returns to be credited when those products reactivate.

The FAQ puts Pix and digital fixed-income payments in the next recovery stage, with trading and cryptoasset transfers following later. It provides no dates for those subsequent steps, leaving customers without a timetable for moving their crypto.

Before balance movements resume in those stages, all customers will have to reconfirm registration details and set new passwords through the app, the company says.

Mercado Bitcoin says customer balance records remain preserved and that it is replenishing affected assets with its own funds.

The exchange also warns customers to type its official website address directly into their browser. It says it does not send links to release balances or ask for passwords outside its platform.