$BTC
Damn
Big trouble!
Major security incident!
SideSwap suspends Liquid-related services
4,000 BTC abnormal transfer😱
This was not ordinary system maintenance
It was TMD about 4,000 BTC
worth about $320 million
that were transferred out of the Liquid Federation wallet😳
After that, the Liquid Network directly suspended related network activity
and notified exchanges to suspend L-BTC deposits and withdrawals
SideSwap also urgently suspended
Swap, Peg-in, Peg-out
Simply put
If you want to use SideSwap to swap BTC into L-BTC right now
or convert L-BTC back to BTC
then you’ll have to wait
What’s even crazier is
this transaction actually left a message
“we are whitehats”
which means
we are white-hat hackers
Damn, are hackers that badass now?
They made off with so much money at once
I should’ve learned hacking too 😅
A simple explanation of the logic
Liquid is a Bitcoin sidechain built by Blockstream
focused on private transactions
L‑BTC is the token on the sidechain pegged 1:1 with BTC
SideSwap is the main cross-chain bridge tool on it
Because of a flaw in the underlying Elements code
4,000 L‑BTC were minted out of thin air
and then, through SideSwap’s withdrawal channel
converted into mainnet BTC and sent out
with a total scale of about $320 million
almost draining Liquid’s reserves
Everyone should pay attention
Bitcoin mainnet itself has no vulnerability
the BTC base chain is completely fine
The project team emphasized that the private keys were not stolen
this was an underlying logic flaw
At present, holders of L‑BTC and Liquid ecosystem assets
cannot normally bridge back to BTC mainnet
and can only wait for the network fix
Sigh, what a mess
it’s both enviable and regrettable……
#sideswap暂停liquid服务
Damn
Big trouble!
Major security incident!
SideSwap suspends Liquid-related services
4,000 BTC abnormal transfer😱
This was not ordinary system maintenance
It was TMD about 4,000 BTC
worth about $320 million
that were transferred out of the Liquid Federation wallet😳
After that, the Liquid Network directly suspended related network activity
and notified exchanges to suspend L-BTC deposits and withdrawals
SideSwap also urgently suspended
Swap, Peg-in, Peg-out
Simply put
If you want to use SideSwap to swap BTC into L-BTC right now
or convert L-BTC back to BTC
then you’ll have to wait
What’s even crazier is
this transaction actually left a message
“we are whitehats”
which means
we are white-hat hackers
Damn, are hackers that badass now?
They made off with so much money at once
I should’ve learned hacking too 😅
A simple explanation of the logic
Liquid is a Bitcoin sidechain built by Blockstream
focused on private transactions
L‑BTC is the token on the sidechain pegged 1:1 with BTC
SideSwap is the main cross-chain bridge tool on it
Because of a flaw in the underlying Elements code
4,000 L‑BTC were minted out of thin air
and then, through SideSwap’s withdrawal channel
converted into mainnet BTC and sent out
with a total scale of about $320 million
almost draining Liquid’s reserves
Everyone should pay attention
Bitcoin mainnet itself has no vulnerability
the BTC base chain is completely fine
The project team emphasized that the private keys were not stolen
this was an underlying logic flaw
At present, holders of L‑BTC and Liquid ecosystem assets
cannot normally bridge back to BTC mainnet
and can only wait for the network fix
Sigh, what a mess
it’s both enviable and regrettable……
#sideswap暂停liquid服务
