Scott Melker, host of The Wolf Of All Streets podcast, posted on X today, November 5, 2026, an update concerning the Brazilian cryptocurrency exchange Mercado Bitcoin. Melker reported that the exchange is preparing to resume services. He stated, "UPDATE: MERCADO BITCOIN TO BEGIN A PHASED REOPENING ON NOV. 9, SAYS MORE THAN $15M IN STOLEN ASSETS IS NOW FROZEN AND IT WILL COVER CUSTOMER LOSSES WITH ITS OWN FUNDS". This provides specific details on the exchange's recovery efforts following a security incident.
This development comes as the broader cryptocurrency market experiences significant movement. Bitcoin recently cleared $80,000, with institutional accumulation reaching a six-month high, as detailed in recent Gokhshtein Media coverage. Bitcoin is currently trading at $80,391, marking a 3.0% increase over the past 24 hours. Ethereum has also seen a rise, priced at $2,416, up 5.1% in the last day. The Crypto Fear & Greed Index sits at 50, indicating a neutral market sentiment.
Melker's update suggests Mercado Bitcoin is taking steps to restore trust and operational stability. The commitment to cover customer losses with its own funds, alongside the freezing of over $15 million in stolen assets, signals an attempt to mitigate the impact on its user base. Market participants will likely watch for the successful phased reopening on November 9 and the full implementation of its compensation plan as indicators of the exchange's recovery.
