Liquid Network halts operations after 320 million USD security withdrawal
Liquid Network temporarily halted operations following a security withdrawal of approximately 4000 BTC, valued at around 320 million USD. The withdrawal was executed by an individual claiming to be a 'white hat' hacker. An investigation revealed that the withdrawal utilized the anchoring withdrawal authorization key, SideSwap PAK, which was not compromised. Other real-world asset (RWA) assets on the sidechain, including USDT, remain unaffected. Currently, deposits and withdrawals of LBTC at major exchanges, as well as new network transactions, are blocked. Operator Blockstream and the federation are attempting to communicate with the hacker through on-chain signed messages while working to resolve the issue and restore network functionality.
-- Price
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