đš Breaking: Liquid Network $320M Incident
Purported white-hat hackers withdrew ~4,000 BTC (~$320 million) from Liquid Networkâs federation wallet (about 95% of reserves). The Bitcoin sidechain has paused operations, bridge nodes are disabled, and exchanges have halted or are preparing to halt L-BTC deposits/withdrawals.
The actors left an on-chain message claiming âwe are whitehatsâ and later indicated they plan to return most funds once a bug in the Elements software is fixed. SideSwapâs peg-out process was involved, but keys were not compromised. Other Liquid assets (USDT, RWAs, etc.) were unaffected. #LiquidNetwork #Bitcoin #CryptoHack #WhiteHat #Blockstream
đ Market Snapshot
Bitcoin is trading around $79,300â$79,500 (slightly down on the day after weekend range-bound action near $80Kâ$81K). Ethereum is near $2,490. Broader market mixed; some altcoin weekend gains faded. Bitcoin ETFs saw solid recent inflows (hundreds of millions weekly). #BTCè”°ćżćæ #BTC #Ethereum #CryptoMarket
đ„ Zcash (ZEC) Surge
ZEC has ripped higher, breaking above $1,200 (multi-year highs in some reports) with ~45% weekly gains and market cap around $20B. Drivers include Grayscaleâs ZCSH spot ETF inflows, short squeezes/liquidations, and renewed privacy narrative interest. #Zcash #ZEC #PrivacyCoin #CryptoRally
Purported white-hat hackers withdrew ~4,000 BTC (~$320 million) from Liquid Networkâs federation wallet (about 95% of reserves). The Bitcoin sidechain has paused operations, bridge nodes are disabled, and exchanges have halted or are preparing to halt L-BTC deposits/withdrawals.
The actors left an on-chain message claiming âwe are whitehatsâ and later indicated they plan to return most funds once a bug in the Elements software is fixed. SideSwapâs peg-out process was involved, but keys were not compromised. Other Liquid assets (USDT, RWAs, etc.) were unaffected. #LiquidNetwork #Bitcoin #CryptoHack #WhiteHat #Blockstream
đ Market Snapshot
Bitcoin is trading around $79,300â$79,500 (slightly down on the day after weekend range-bound action near $80Kâ$81K). Ethereum is near $2,490. Broader market mixed; some altcoin weekend gains faded. Bitcoin ETFs saw solid recent inflows (hundreds of millions weekly). #BTCè”°ćżćæ #BTC #Ethereum #CryptoMarket
đ„ Zcash (ZEC) Surge
ZEC has ripped higher, breaking above $1,200 (multi-year highs in some reports) with ~45% weekly gains and market cap around $20B. Drivers include Grayscaleâs ZCSH spot ETF inflows, short squeezes/liquidations, and renewed privacy narrative interest. #Zcash #ZEC #PrivacyCoin #CryptoRally