🔍 Security analysis: 4,000 BTC withdrawn from the Liquid Network!
A serious vulnerability was just exploited when a hacker (claiming to be a white hat) withdrew about 4,000 BTC from the Liquid Federation wallet through the SideSwap PAK authorization key.
Details:
📉 Loss: ~4,000 BTC (equivalent to about 320 million USD).
⚠️ Emergency measure: All sidechain operations as well as LBTC deposit/withdrawal gateways on exchanges have now been frozen.
Notably, this incident did not result from a security key leak but from a flaw in the authorization mechanism. The attacker calling themselves a "white hat" suggests this may have been a warning about a vulnerability. However, having to pause the entire network has significantly affected the reputation of sidechain solutions.
Although other assets such as RWA or USDT remain safe, this event is a costly lesson about the risks of centralized power in federation wallet management models (Federation).
👉 Get early market signals — 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 vulnerability was just exploited when a hacker (claiming to be a white hat) withdrew about 4,000 BTC from the Liquid Federation wallet through the SideSwap PAK authorization key.
Details:
📉 Loss: ~4,000 BTC (equivalent to about 320 million USD).
⚠️ Emergency measure: All sidechain operations as well as LBTC deposit/withdrawal gateways on exchanges have now been frozen.
Notably, this incident did not result from a security key leak but from a flaw in the authorization mechanism. The attacker calling themselves a "white hat" suggests this may have been a warning about a vulnerability. However, having to pause the entire network has significantly affected the reputation of sidechain solutions.
Although other assets such as RWA or USDT remain safe, this event is a costly lesson about the risks of centralized power in federation wallet management models (Federation).
👉 Get early market signals — Follow the channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en\u0026r=BOZMO8A1
#Security #Crypto #Hack #BTC #Bitcoin $TRX