💎 Notable: Liquid Network has just been "hacked" and lost 4000 BTC!
A serious incident just occurred when a white-hat hacker is said to have withdrawn about 4000 BTC from the Liquid Federation wallet through the SideSwap PAK authorization key.
Damage details:
💰 Amount: ~4000 BTC
💵 Value: ~320 million USD
🚫 Status: All sidechain operations and LBTC deposits/withdrawals on exchanges have been temporarily suspended
Looking deeper, the key point here is that the security key was not leaked; the issue lies in the authorization mechanism. The hacker calling themselves "white hat" suggests this may have been an attempt to warn about a vulnerability rather than steal assets. However, the shutdown of the entire network shows how severe this incident is for trust in sidechain solutions.
What is noteworthy is that other assets such as USDT and RWA are still safe, but this incident is an expensive reminder of the risks of concentrating power in wallet-governing federations (Federation).
👉 Read the news, make decisions — Follow the channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en\u0026r=BOZMO8A1
#Security #Crypto #Hack #BTC #Bitcoin $TRX
A serious incident just occurred when a white-hat hacker is said to have withdrawn about 4000 BTC from the Liquid Federation wallet through the SideSwap PAK authorization key.
Damage details:
💰 Amount: ~4000 BTC
💵 Value: ~320 million USD
🚫 Status: All sidechain operations and LBTC deposits/withdrawals on exchanges have been temporarily suspended
Looking deeper, the key point here is that the security key was not leaked; the issue lies in the authorization mechanism. The hacker calling themselves "white hat" suggests this may have been an attempt to warn about a vulnerability rather than steal assets. However, the shutdown of the entire network shows how severe this incident is for trust in sidechain solutions.
What is noteworthy is that other assets such as USDT and RWA are still safe, but this incident is an expensive reminder of the risks of concentrating power in wallet-governing federations (Federation).
👉 Read the news, make decisions — Follow the channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en\u0026r=BOZMO8A1
#Security #Crypto #Hack #BTC #Bitcoin $TRX