Bordeaux manager Jocelyn Gourvennec has inadvertently confirmed Malcom could leave the club this month.
The 20-year-old has reportedly begun negotiations with Arsenal about becoming the replacement for Alexis Sanchez, who is expected to join Manchester United this week.
Malcom's agent, Leonardo Cornacini, recently posted a photo on social media in London with the caption: "This is @elenko_sports... invading the land of Royal Majesty #PremierLeague."
And speaking on Monday, Gourvennec was unsure what was happening with his player but hinted that he might be on his way out of the club very soon.
He said: "With Malcom I am taking it day by day... if he leaves, he will be replaced."
Tottenham were also billed as a potential suitor for the Brazilian, but Spurs boss Mauricio Pochettino has played down the link.