#sideswapsuspendsliquidservices
⚠️ **SideSwap Pauses Liquid Network Services: What Users Need to Know** ⚠️
Operations across the **Liquid Network** and **SideSwap** have temporarily halted following a major $320 million (approx. 4,000 BTC) security incident.
An exploit involving an Elements software vulnerability resulted in invalid L-BTC minting. These tokens were processed through SideSwap's peg-out mechanism to release underlying Bitcoin from the Liquid Federation reserves. While self-proclaimed "white-hat hackers" claimed responsibility on-chain and offered to return funds once a patch is implemented, bridge nodes remain deactivated as developers conduct technical remediations.
Here is what you need to know to navigate the pause safely:
1️⃣ **User Wallet Safety:** SideSwap operates as a non-custodial service. Self-custody wallets and non-L-BTC assets (such as USDT on Liquid) remain controlled by users' private keys.
2️⃣ **Services Currently Paused:** Swaps, peg-ins, and peg-outs on SideSwap are completely suspended. Multiple exchanges have also temporarily paused L-BTC deposits and withdrawals.
3️⃣ **Handling Unfinished Orders:** Completed peg-outs paid to the Bitcoin mainnet are unaffected. If you have pending or unfinished peg-in/peg-out transactions, reach out directly to official support (`hello@sideswap.io`) with your transaction IDs.
Do not attempt new peg-in or peg-out deposits until official channels confirm network restoration! Stay vigilant against phishing attempts. 🛡️🔑
*Disclaimer: Educational news update, not financial advice. Always Lilly.*
#IMFSaysElSalvadorBTCNoPublicFunds
⚠️ **SideSwap Pauses Liquid Network Services: What Users Need to Know** ⚠️
Operations across the **Liquid Network** and **SideSwap** have temporarily halted following a major $320 million (approx. 4,000 BTC) security incident.
An exploit involving an Elements software vulnerability resulted in invalid L-BTC minting. These tokens were processed through SideSwap's peg-out mechanism to release underlying Bitcoin from the Liquid Federation reserves. While self-proclaimed "white-hat hackers" claimed responsibility on-chain and offered to return funds once a patch is implemented, bridge nodes remain deactivated as developers conduct technical remediations.
Here is what you need to know to navigate the pause safely:
1️⃣ **User Wallet Safety:** SideSwap operates as a non-custodial service. Self-custody wallets and non-L-BTC assets (such as USDT on Liquid) remain controlled by users' private keys.
2️⃣ **Services Currently Paused:** Swaps, peg-ins, and peg-outs on SideSwap are completely suspended. Multiple exchanges have also temporarily paused L-BTC deposits and withdrawals.
3️⃣ **Handling Unfinished Orders:** Completed peg-outs paid to the Bitcoin mainnet are unaffected. If you have pending or unfinished peg-in/peg-out transactions, reach out directly to official support (`hello@sideswap.io`) with your transaction IDs.
Do not attempt new peg-in or peg-out deposits until official channels confirm network restoration! Stay vigilant against phishing attempts. 🛡️🔑
*Disclaimer: Educational news update, not financial advice. Always Lilly.*
#IMFSaysElSalvadorBTCNoPublicFunds
