The self-proclaimed white hats moved the sidechain treasury and 4,000 bitcoins vanished on the spot
Bitcoin sidechain Liquid ran into trouble. The treasury balance plunged overnight from 4,200 bitcoins to 207.
About 4,000 bitcoins, worth $320 million, were taken in one go.
After the transfer, there was still a line left on-chain: We are white-hat hackers, please contact us on-chain.
The absurdity of this drama rivals a suspense film.
Liquid’s withdrawal channel originally had multiple restrictions. Main-chain funds required 11 signatures out of 15 signers.
There was also a dedicated authorization key system that only allowed withdrawals to whitelisted wallets.
But this time, the key holders said the keys were not lost, yet the system still let thousands of coins out.
Even now, no one can clearly say which link was bypassed.
The project team later admitted this was a security incident.
A self-proclaimed white-hat team withdrew about 4,000 bitcoins through the authorization mechanism.
Multiple platforms have already suspended deposits and withdrawals of L-BTC.
The bridge nodes were temporarily shut down, and the entire sidechain was stopped for now.
The question is: this white-hat identity doesn’t count just because you say so on-chain.
A real white hat reports the vulnerability first, waits for it to be fixed, and then receives a bounty.
Emptying the treasury and then making a public statement is more like bargaining leverage after the fact.
Unless they can return the coins through the same route, that white-hat claim has to be questioned.
No matter how this turns out, this is another lesson in self-custody.
No treasury is big enough to withstand the risk of internal mechanisms being bypassed.
If you hold your coins yourself, at least you won’t wake up in the middle of the night to find your balance at zero.
Do you think they’re Robin Hoods, or is there something else going on? Let’s talk in the comments.
Click the profile picture to watch the livestream.
Every day I bring you Bitcoin security hotspots. It’s not just about what happened in the news, but also about the logic and opportunities behind it 👉🦖
#比特币
Bitcoin sidechain Liquid ran into trouble. The treasury balance plunged overnight from 4,200 bitcoins to 207.
About 4,000 bitcoins, worth $320 million, were taken in one go.
After the transfer, there was still a line left on-chain: We are white-hat hackers, please contact us on-chain.
The absurdity of this drama rivals a suspense film.
Liquid’s withdrawal channel originally had multiple restrictions. Main-chain funds required 11 signatures out of 15 signers.
There was also a dedicated authorization key system that only allowed withdrawals to whitelisted wallets.
But this time, the key holders said the keys were not lost, yet the system still let thousands of coins out.
Even now, no one can clearly say which link was bypassed.
The project team later admitted this was a security incident.
A self-proclaimed white-hat team withdrew about 4,000 bitcoins through the authorization mechanism.
Multiple platforms have already suspended deposits and withdrawals of L-BTC.
The bridge nodes were temporarily shut down, and the entire sidechain was stopped for now.
The question is: this white-hat identity doesn’t count just because you say so on-chain.
A real white hat reports the vulnerability first, waits for it to be fixed, and then receives a bounty.
Emptying the treasury and then making a public statement is more like bargaining leverage after the fact.
Unless they can return the coins through the same route, that white-hat claim has to be questioned.
No matter how this turns out, this is another lesson in self-custody.
No treasury is big enough to withstand the risk of internal mechanisms being bypassed.
If you hold your coins yourself, at least you won’t wake up in the middle of the night to find your balance at zero.
Do you think they’re Robin Hoods, or is there something else going on? Let’s talk in the comments.
Click the profile picture to watch the livestream.
Every day I bring you Bitcoin security hotspots. It’s not just about what happened in the news, but also about the logic and opportunities behind it 👉🦖
#比特币
