Hackers Withdraw $320 Million in Bitcoin from Liquid Network
Purported white-hat hackers withdrew about 4,000 bitcoin from the Liquid Network federation wallet, prompting the network to pause transactions.
KEY POINTS
- About 4,000 bitcoin were withdrawn from the Liquid Network federation wallet.
- The stolen funds are valued at approximately $320 million.
- The sidechain was paused and bridge nodes were disabled following the incident.
- The hackers claimed to be white-hats and left contact instructions on-chain.
The Liquid Network announced that approximately $320 million in bitcoin was withdrawn from its federation wallet in a security breach. Purported white-hat hackers took about 4,000 bitcoin out of the total 4,200 held in the wallet.
Following the incident, bridge nodes were disabled and the sidechain was paused. Other issued assets, such as USDT, DePix, and RWAs, remained unaffected by the security event.
“we are whitehats. contact us on chain.”
The withdrawal was executed via SideSwap using a peg-out authorization key. The funds were subsequently moved to an address ending in 6gyqjlte along with an on-chain message.
Blockstream's proof of reserves page reported just over 207 bitcoin remaining in the treasury. Communications via OP_RETURN messages and contacts on Signal were later established between the parties.
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