$320 million Bitcoin Heist Rocks Liquid Network

A major security breach on the Liquid Network has resulted in the loss of $320 million worth of Bitcoin. The hack, which occurred recently, saw around 4,000 out of 4,200 BTC held in a wallet used by the network being drained.

The perpetrators appear to be 'white-hat hackers' who exploit security flaws and typically return the funds, sometimes in exchange for a fee. However, they have retained $47 million worth of Bitcoin for themselves.

Liquid Network has halted all new transactions and is working with its federation members to resolve the issue and restore normal network activity.