I’m still processing how crazy this Liquid Network incident is. 😳
Around 4,000 BTC worth ~$320M was withdrawn from the federation wallet nearly 95% of its reported BTC reserves.
What makes it even stranger: the funds reportedly moved through a valid peg-out, while Liquid and SideSwap said their keys weren’t compromised. The issue was traced to a bug in the underlying Elements software.
Then came the unexpected part: 3,400 BTC was returned after the network was patched, while roughly 600 BTC remains with the attackers.
Crypto security really can change the story in a matter of hours.
#bitcoin #CryptoSecurity
$BTC $B
Around 4,000 BTC worth ~$320M was withdrawn from the federation wallet nearly 95% of its reported BTC reserves.
What makes it even stranger: the funds reportedly moved through a valid peg-out, while Liquid and SideSwap said their keys weren’t compromised. The issue was traced to a bug in the underlying Elements software.
Then came the unexpected part: 3,400 BTC was returned after the network was patched, while roughly 600 BTC remains with the attackers.
Crypto security really can change the story in a matter of hours.
#bitcoin #CryptoSecurity
$BTC $B
